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Finance

FEES AND CHARGES

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.

The Council is required by law to review the fees and charges it recieves from its residents and service users each year. This review is part of the budget setting work and is completed in January each year. The list of Fees and Charges for the current year can be seen here.  

BUDGET SETTING

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. Estimates are prepared by the spending Committees and then considered by the Finance & General Purposes Committee which takes in to account 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 reasonable 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 for new or improved facilities is funded via the precept, earmarked reserves and grants. 

A copy of the Budgets can be found here: 

2020-21 

2021-22

Please click here for the speech made by the Leader of the Council, Cllr Samantha Bowring, when introducing the budget to the Town Council on 27th January 2021.

AUDIT AND REVIEW 

During the year, all budgets are carefully monitored, with regular financial reports submitted to each spending committee. Internal audit helps to identify areas for improvement in efficiency and are carried out independently,  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.

Due to the Covid-19 pandemic the statutory audit deadlines have been extended for 2019-20.  The changes to the regulations are explained in the attached document here

The Annual return for 2019-20 has been approved by Council at the meeting held on 24th June 2020. The return and supporting financial statements are available to view here:

AGAR 2019-20

Financial Statements.

The name of the Council’s External Auditor and their contact details are:

Moore
Rutland House, Minerva Business Park, Lynch Wood, Peterborough, PE2 6PZ
T    +44 (0)1733 397300
Email Oxon.sa@moore.co.uk

The period for public inspection of the supporting records ran from Monday 24th August to Monday 5th October 2020.

The External Audit Certificate was received on 24th November 2020.  

Click here to see the audited annual returns for 2012 - 2019

SAFEGUARDING OUR FINANCES 

The Council has a responsibility to ensure that its funds, which are received from council tax payers and service users, are invested wisely. The Council weighs up the risks and rewards of investment options. The Council adopted its Investment Strategy at the Council Meeting held on 16 December 2020.

COMMUNITY INFRASTRUCTURE LEVY

The Community Infrastructure Levy was adopted by Vale of White Horse District Council on 27th September 2017 and took effect on 1st November 2017. The levy applies to all new residential development and extensions which exceed the threshold of floor area (currently 100m²).

15% of CIL monies for developments and extensions within the parish of Abingdon-on-Thames are passed to the Town Council.

The Council is required to spend these funds within five years from the time they are received and must produce an annual declaration of CIL monies received and CIL monies spent by 31st December each year.

The declaration is attached.

 

Click on the documents below to access the audited annual returns for the previous five years.  Click below for the unaudited Accounting Statements, a copy of the Council's Annual Governance Statement and a statement detailing the public's rights in relation to audit.   
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FEES AND CHARGES 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...
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