The Finance sub committee of Fulbourn Parish Council consists of up to 6 of the 15 members.
This Committee is supported by the Responsible Financial Officer (RFO) who by law has to be engaged by the Council.
The RFO produces quarterly reports on the financial standing of the Council and year end financial reports for the auditors.
The financial year begins on April 1st and before that the Council will produce a budget for ensuing year and agree on the Precept. The budget is based on the spending of the Council over the preceding year and of estimated future needs.
The RFO’s quarterly accounts divide the amounts into cost centres. Ie sports pavilion, recreation ground, cemetery, open spaces, administration and capital funding. This enables members to see where over or under-spending may occur and budget accordingly.
As well as cost centres, there are financial arrangements for specific items ie Agency services, library support, shopper bus, youth club support, highway percentage support, tree work, Fulbourn Arts Forum and the Land Fund.
All are taken into account and the budget is presented to the Council for their endorsement. Once agreed, the Precept is decided and claim made to the District Council, which is received half-yearly.
Sub Committee Members
* Sub Committee Chair