Town Council Finance
Abingdon-on-Thames Town Council has responsibility for a range of services carried out for the benefit of the community. The services are described in more detail in the Town Council Services section of this website. The financial objective is to operate these services in an economic and efficient manner so as to ensure they are operating at the lowest sensible cost whilst being effective, and to raise an increasing amount of revenue from sources other than Council Tax, making reasonable charges for services where appropriate.
From September each year work is carried out to identify the issues that are likely to face the Town Council in the coming financial year and a budget setting process takes place. Objectives and recommendations of service reviews are factored in so that draft estimates can be presented to the spending Committees. The estimates are collated under the Finance & General Purposes Committee which considers them in relation to spending priorities and the financing of the budget. A major part of budget setting is to consider the appropriate level of Council Tax for the tax payers of Abingdon; to balance the need to provide sufficient resources in order to deliver excellent services against the wish to keep demands on the Council Tax payer as low as possible. At the end of the budget setting process the Town Council sets a precept, which is the amount of money that is required from the Council Tax in order to provide the planned services.Capital expenditure is used to provide new or improved facilities and this varies from year to year. This expenditure is also identified in advance and budgets set, using grant applications, use of the precept and reserves to make provision for capital spend items.
During the year, all budgets are carefully monitored, with regular financial reports submitted to each spending committee. Internal auditing and management checks help to identify areas for improvement in efficiency and are carried out independently, within the constraints of a small organisation, to ensure impartiality is achieved in accordance with Corporate Governance requirements. The function is independent of the Responsible Financial Officer and is undertaken by Mr Stuart Pollard of Auditing Solutions, Chippenham, Wiltshire.
Annual accounts are produced and approved by members usually in June following the end of the financial year. The Town Council is designated a "smaller relevant body" under the Accounts and Audit (England) Regulations 2011 and produces an annual return accordingly. Click here to see the 2012-13, 2013-14 and the 2014-15 audited annual returns.
Accounting Statements for 2015/16 and audit
Annual return for 2015/16 and notice of conclusion of audit
The annual return for 2015/16 has been agreed by the Council and has been audited. The notice of conclusion of audit was received on 26th September 2016. Please click below for details.
The auditor concluded that "the information in the annual return is in accordance with proper practices and no matters have come to our attention giving cause for concern that relevant legislation and regulatory requirements have not been met." There were no other matters not affecting the audit opinion which the auditors wished to draw to the attention of the Council.