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Finance

Lower Slaughter Parish Council Financial Affairs

Lower Slaughter Parish Council is responsible in law for ensuring that its financial management is adequate and effective and that the Council has a sound system of internal control which facilitates the effective exercise of the Council’s functions, including arrangements for the management of risk.

Principle Legislation governing the financial activities of the Council are: -

  • The Local Audit and Accountability Act 2014
  • The Accounts and Audit Regulations 2015 (SI 2015/234) as amended by the Accounts and Audit (Coronavirus)(Amendment) Regulations 2020 (SI 2020/404).

A key document in the management of the Council’s financial activities is the Financial Regulations Code of Conduct, a document based on National Association of Local Councils (NALC) guidelines, which was formally adopted by the Council at its meeting on 14th May, 2018, minute reference 180514/9(c).  As part of our ongoing risk management activities, this document is reviewed annually.

The external auditors appointed to audit the accounts for smaller authorities in Gloucestershire are PKF Littlejohn LLP, 1 Westferry Circus, Canary Wharf, London E14 4HD. 

Separately, each smaller authority is required to appoint its own Independent Internal Auditor who will inspect and approve the Council's financial systems and accounts before these are submitted for further inspection.   In the case of Lower Slaughter Parish Council, Housego Accountancy Limited undertake the role of Internal Auditor.

Ordinarily, LSPC meets the requirements for a Limited Assurance Review due to the level of revenue being below the prescribed value of £25,000 per annum.   However due to the receipt of a substantial financial contributions for the filming of a period drama in the village, the Parish Council has not met the criteria to seek exemption from a Limited Assurance Review for the financial periods 2018/2019 and 2019/2020.

Please refer to the appropriate directories for further information.  These are organised in the relevant financial periods from April to March.