The Finance Committee meets quarterly, scrutinising the financial transactions of the Council and making any necessary recommendations to the Full Council.
In October the Committee meets to decide on the estimated expenditure for the next financial year; this recommendation is presented to the Full Council Meeting in November for ratification. From these figures the Parish Council’s precept (the amount of money the Council requests in the Council Tax under ‘Parish’) is calculated for Bucks Unitary Council.
This Committee is responsible for the Council’s annual external and internal audits and preparation of the annual accounts; together with ensuring that the Council is performing all its legal financial obligations.
The Committee is also responsible for the Council’s Policies and Procedures and meet to ensure that these are drafted and updated, when necessary, ready for ratification by Full Council.
Chairman’s Annual Allowance
As per Waddesdon Parish Council Budget for 2020/21 the Chairman is awarded an annual allowance for £300 to cover out of pocket expenses occurring during his term of office.