Finance

Last updated 27th May 2020

Frome Town Council is open and transparent in all its financial activities and ensures financial management is adequate, effective and has a sound system of internal control. The foundation to achieve this is our Financial Regulations (PDF, 2.97MB) which are reviewed each year. In addition, our expenditure decision making adheres to certain ethical and connected party choices laid out in our Ethical decision Matrix (PDF, 178KB) and our Connected Party Declaration (Doc, 1.04MB) form.

The annual budget for the following year is discussed by Councillors and receives final approval at the January council meeting.  After expenditure is agreed and any expected income deducted, it leaves a balance required for the council to provide its services and deliver its Strategic Plan (PDF, 560KB). The balance required is called the ‘Precept’.

The ‘Precept’ is the part of your Council Tax bill that comes to Frome Town Council (for Band D properties in 2020/21 this will be £184.66, although 77% of Frome residents will pay less being in Bands A, B and C). All the Council tax is collected by Mendip District Council and is then distributed between Avon and Somerset Police, Devon and Somerset Fire and Rescue, Somerset County Council, Mendip District Council and Frome Town Council.

For the financial year 2020/21 Frome Town Council’s ‘Precept’ is £1,633,108. The size of your property determines how much Council Tax you pay. Properties are put into one of eight bands, A being the lowest, and H the highest, with Band D being the average.

Details of our 202021 budget can be found here: Frome Town Council Budget for 2020-21 (PDF, 48KB)

The council receives assurance from Internal (quarterly) and External (annual) auditors that they are carrying out their duties responsibly and that appropriate accounting records have been kept.

The first Notice of Public Rights for the provisional Annual Governance & Accountability Return (AGAR) for 2019/20 is published here (PDF, 100KB)  following approval at the Annual Council meeting on 20th May 2020. The AGAR and associated documents have been submitted to external auditors PKF Littlejohn for the annual audit. Their response is expected by September and will be published here.

Below are a list of the Internal Auditors quarterly reports:

Internal Auditors letter February to March 2020 incl Year End March 2020 (PDF, 1MB)

Internal Auditors letter October 2019 to January 2020 (PDF, 294KB)

Internal Auditors letter April to September 2019 (PDF, 79KB)

Internal Auditor 2018-19 Year End March 19 (PDF, 487KB)

Internal Auditors letter October 18 – January 19 (PDF, 381KB)

Internal Auditors letter July 18 – September 18 (PDF, 401KB)

Internal Auditors letter April 18- June 18 (PDF, 380KB)

February – March 18 included in the Annual Return 31 March 2018

Internal Auditors letter November 17 – January 18 (PDF, 445KB)

Internal Auditors letter August 17 – October 17 (PDF, 115KB)

In order to achieve the aim of being open and transparent, to allow residents to see what the council spends its money on, details of payments over £500 to suppliers each month can be found here:

February 2020 to March 2020 (PDF, 20KB)

October 2019 to January 2020 (PDF, 445KB)

August to September 2019 (PDF, 48KB)

June to July 2019 (PDF, 107KB)

May 2019 (PDF, 84KB)

February 2019 to April 2019 (PDF, 119KB)

December 2018 to January 2019 (PDF, 36KB)

October to November 2018 (PDF, 91KB)

August to September 2018 (PDF, 361KB)

July 2018 (PDF, 117KB)

April to June 2018 (PDF, 223KB)

February to March 2018 (PDF, 145KB)

October 2017 to January 2018 (PDF, 145KB)

August to September 2017 (PDF, 362KB)

For more information on any finance related matters please contact:

Sarah Williams, Responsible Finance Officer – email: swilliams@frometowncouncil.gov.uk or
Hannah Paniccia, Finance Administrator – email: hpaniccia@frometowncouncil.gov.uk.