Finance Day
Join us for a half day or full day of Finance!
Morning sessions - 10.00am - 1:00pm
- Finance for Councillors and New Clerks/RFOs
- Budgeting and Precept Setting
Afternoon sessions - 1:30pm - 4:30pm
- Introduction to VAT and VAT126 forms
- Internal controls
Morning - 10:00am - 1:00pm
Finance for Councillors and New Clerks/RFOs
This session is designed to give councillors and new Clerks/RFOs a greater understanding of their duties with regard to the council’s finances.
Topics include:
• Roles and responsibilities
• setting a budget and precept
• Financial control
• The Annual Governance & Accountability Return
• Internal and external audit
• How VAT applies to local councils
By the end of the session you will:
• Understand the council's duties regarding financial management
• Be aware of relevant legislation and sources of guidance
• Be aware of how the council's accounts are prepared and audited
• Recognise the importance of internal controls
• Understand how VAT law applies to your council
Budgeting and Precept Setting
This session is aimed at officers and councillors of parish & town councils, who are involved in preparing, approving and monitoring budgets. Run by Steve Parkinson, OALC Finance, Audit and VAT consultant
Topics include:
• setting a budget and precept
• Contingencies and reserves
• how the council tax base affects the budget
• Inflation
• budget monitoring
By the end of this session you will:
• Understand how and when to prepare a budget
• Know how to approve and issue a precept
• Be aware of the factors that affect a budget
• Understand how to manage a budget
Afternoon 1:30 - 4:30pm
VAT for Clerks and Councillors
This session on VAT will cover these areas:
- An overview of relevant legislation and guidance
- key concepts of VAT
- making supplies of goods and services
- VAT registration
- Recovering VAT on purchases
- Partial exemption and opting to tax
- Using grants and donations
- common problem areas
- signposting to more detailed guidance
Internal Controls
Following the recent case of an Oxfordshire Parish Clerk being convicted of defrauding Towersey and Chinnor Parish Councils of over £161,000, this is a timely reminder of the need to understand, implement and constantly monitor robust internal financial controls.
This session will give councillors and clerks an understanding of the need for internal controls and how they work, with practical examples and case studies.
Topics include:
• Roles and responsibilities
• Financial risks
• Purpose of internal controls
• Case studies
• Examples of controls
• Review of internal controls
By the end you should:
• Understand the council's and RFO's duties regarding internal control
• Be aware of the purpose of internal controls
• Be able to identify examples of internal controls
• Know when to review internal controls
Steve Parkinson, The Parkinson Partnership LLP
Steve is a former Town Clerk & an accountant with 30 years’ experience in public sector finance, who specialises in advice & training for the local council sector.
Steve is a former Town Clerk & an accountant with 30 years’ experience in public sector finance, who specialises in advice & training for the local council sector.
Please let us know if you have any dietary requirements when booking, as refreshments will be provided.