Financial Control, Risk Assessment and Management Old Hutton and Holmescales Parish Council

Topic Risk identified Management of risk Staff action

Financial reserves Adequacy Consider at review of final accounts and at budget setting Clerk and PC members
Loss of reserves Fraud Clear audit trail: invoice or receipt; all expenditure minuted; two PC signatories; clerk
signatures on cheques by parish councillors. There is no petty cash
system.
Loss - general Consequential loss due to damage or Review adequacy of insurance cover before the June premium is due Diary
third party performance
Maintenance of Reduced value of assets or Annual maintenance check of the burial ground, car park, two footpaths, Diary
assets amenities and their performance milestones, notice boards, seats and miscellaneous equipment used for
broadband installation
Financial and Inadequate records; inability to Financial records seen regularly at PC meetings and in annual internal Clerk and PC members
administrative access the parish e-mail system audit; PC members and website manager know the password for the
records parish e-mail system
Financial and Loss of computerised records Files backed up each month Clerk
administrative
records
Minutes Accuracy and legality Review at the following meeting Clerk and PC members
Members’ interests Conflict of interest Members’ declarations of interest are filed and taken to each meeting; Clerk
any conflict to be addressed as appropriate according to the standing
orders
Precept Adequacy Consider at review of final accounts and at budget setting Clerk and PC members
Precept Not submitted To be determined at the budget setting meeting and minuted Clerk and PC members
Grants – section 137 Fraud by recipient Require proof of expenditure on the agreed item Clerk
Grants obtained by Receipt of grant when due Clerk to check as required Diary
the PC
Ice Ice on the PC footpaths Public liability insurance; the Parish Council accepts no responsibility for Diary
accidents caused by ice and snow on the footpaths it owns. (minute
131205-17 of the meeting held on 05-12-2013)
Transparency Breach of Government regulations In line with Government regulations, all agendas, papers, minutes and Clerk and website manager
end-of-year accounts are published on the parish website. It also shows
the annual governance statement, the internal audit report, a list of
councillors’ responsibilities and the location of public land.

General Data Non-compliance The clerk has attended training and policy and procedures will be Clerk and PC members
Protection determined at the April 2018 Council meeting. GDPR becomes law on
th
Regulations the 25 May 2018.

Last reviewed on 08-03-2018