Financial Information

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The Council has the authority to raise money through taxation, known as ‘the Precept’, and a range of powers to spend public money, and other income it might raise through grants etc. It is subject to rules which are designed to make sure Council takes no unacceptable risks with its income, and spends it efficiently. The Council has its own financial regulations (as part of its Standing Orders) which give details on how the Council must manage its finances. It also has a risk management scheme which highlights all known significant risks in terms of Council’s activities and makes clear how such risks will be managed. In certain circumstances, the Council may also make grants to organisations – see RCPC Grant Application Form.

The Financial Year & Responsible Financial Officer (RFO)

The Council’s financial year runs from 1 April to 31 March. Around December, Council agrees its budget for the following year, with the resulting precept demand usually submitted in January/early February. The budget is designed to control Council’s finances and demonstrate it will have sufficient income to carry out its activities and polices. Council regularly checks its spending against its budget plans at various Council meetings throughout the year.

The Council’s finances are administered by the Responsible Financial Officer (RFO), who is also the Clerk to the Council. She makes regular reports to Council on its financial activities to ensure open, robust management and oversight, and for the avoidance of risk and possible fraud. All payments and receipts are recorded in the minutes of Council meetings, together with information on Council’s bank balance(s).

Council operates an overall system of internal control appropriate to its expenditure and activity. This includes an annual internal audit of its systems by an independent and competent auditor, whose findings/recommendations are reported to Council. Council is also required by law to submit an Annual Return, re-named the Annual Governance & Accountability Return (AGAR) from 2017/18 onwards, the principal means by which it is accountable to its electorate. Council must complete the AGAR to confirm that its financial arrangements are in order. It includes a signed statement to confirm responsibility for governance arrangements during the years, and a section signed by the internal auditor, to confirm the Council’s systems of controls is in place and operating. Once approved by Council, the AGAR is submitted to the nominated external auditor by an agreed date.

For 2024-25 Financial Year, see:
Budgeted Payments & Receipts for Year Ending 31 March 2025

For 2023/24 Financial Year, see:
Budget and Actual Payments & Receipts to 31 December 2023
Budget and Actual Payments & Receipts to 30 September 2023
Budget and Actual Payments & Receipts to 30 June 2023
Budgeted Payments & Receipts for Year Ending 31 March 2024

For 2022/23 Financial Year, see:
Notice of Conclusion of Audit for year ended 31 March 2023
Audited Annual Governance and Accountability Return for year ended 31 March 2023
Notice of Public Rights and Publication of Unaudited Annual Governance and Accountability Return (AGAR) for yr ended 31 March 2023, including Summary of Rights
Internal Audit Report for year ended 31 March 2023
CIL Annual Report for year ended 31 March 2023
Budget & Actual Payments and Receipts to 31 March 2023 ie Year End
Budget & Actual Payments and Receipts to 31 December 2022
Budget and Actual Payments & Receipts to 30 September 2022
Budget and Actual Payments & Receipts to 30 June 2022
Budgeted Payments & Receipts for Year Ending 31 March 2023