The Financial Regulations under which the Parish Council operates are reviewed annually. The Regulations were adopted on 11 April 2018.
Parish Budget and Precept
The Parish Council annually reviews its income and expenditure at a full Parish Council meeting normally held in November and sets the village precept which is submitted to Durham County Council for inclusion in the county tax band calculations.
The village precept for the forthcoming year is £6810 which forms the bulk of the Parish Council income. We always strive to spend this money prudently on maintenance issues around the parish to maintain and enhance the aesthetics of the village.
End of Year Accounts and Annual Returns
2016-2017 Accounts and Annual Return
At the end of each financial year the parish council must formally approve its accounts and submit to an independent financial auditor for approval. The accounts for 2016-2017 have been formally approved and the Notice of Conclusion of Audit, Annual Governance Statement and Annual Report can be seen below.
Previous years’ accounts can be found below:
Cotherstone Parish Council Accounts 2013-2014 (.pdf)
Transparency Code requirements
The Local Audit and Accountability Act 2014 sets out a new framework for local public authorities which are currently covered by the audit commission regime. Under the new framework local councils with an annual turnover not exceeding £25’000 will be exempt from routine external audit.
- All items of expenditure greater than £100 are minuted within the monthly Parish Council Minutes
- End of year accounts are shown above
- An annual governance statement is produced in accordance with the format of the annual return audit form
- Internal annual audit report, an annual internal financial audit is carried out prior to current submission to the external auditing body
- Public land and Building Assets, the Parish Council has ownership of the following assets (all land assets are registered with the Land Registry, registry reference number: DU322215)
- East Green
- West Green
- The Hagg Grounds
- The Council has one building asset, the Hearse House (opposite the Village Hall) which is rented out as a garage on an annual basis and used for storage of Village Hall surplus equipment.
- Councillor responsibilities are defined in the schedule of councillors, limited to chair and vice chair due to the size/responsibilities of the Parish Council.