Steep Parish Council is responsible in law for ensuring that its financial management is adequate and effective, and that the Council has a sound system of internal control in place which facilitates the effective exercise of the Council’s functions, including arrangements for the management of risk.
We have Financial Regulations that govern the conduct of financial management by the Council and these can be found on our Freedom of Information page.
At every Parish Council meeting, approval is given for payments made during the month and all payments are later recorded in the minutes of the meeting. Additionally, bank reconciliations are carried out each month, verified by a councillor and recorded in the minutes.
From 1 July 2015 Parish Councils are required to publish information in accordance with the Transparency Code. The legislation can be found here.
The Council sets its budget each year in around December to comply with the deadlines imposed by East Hampshire District Council for setting the precept.
A draft budget will be taken to Council in around November with final approval given at a Council meeting in either December or January.
The Asset Register is reviewed and updated on an annual basis.
The end of year financial statements are published after year end (31st March) each year once they have been checked by an internal auditor.
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