The Accounting and Audit Regulations govern how the Council produces its accounts. The Council is classed as a “smaller authority” and its statutory accounts are produced in the form of the Annual Governance and Accountability Return (AGAR) which is subject to limited assurance audit.

The Council is required to make arrangements for the proper administration of its financial affairs and to appoint one member as its Responsible Financial Officer (RFO)

Financial Regulations

Financial regulations govern the conduct of financial management by the Council and may only be amended or varied by resolution of the Council. Financial regulations are one of the Council’s main governing policy documents providing procedural guidance for councillors and employees. Financial regulations must be observed in conjunction with the Council’s standing orders.

• Financial Regulations

Annual Governance and Accountability Return (AGAR)

The accounts for Walkern Parish Council for the year ended 31st March 2024 have been completed, audited and published.

• Notice of conclusion of audit 2023/24
• AGAR 2023-24
• Notes to the 2023/24 Annual Governance and Accountability Return
• Notice of Public Rights year ended 31st March 2024

Accounts and budget

Each year the Parish Council forecasts how much money it is going to need to finance its activities for the following year. The primary source of income is the precept which is the money the Parish Council receives from East Herts District Council collected through council tax.

The Parish Council is required to publish the details of each individual item of expenditure above £100 including:

1. date the expenditure was incurred
2. summary of the purpose of the expenditure
3. amount
4. Value Added Tax that cannot be recovered

This council elects to publish each item of expenditure, irrespective of amount.

Each month detailed accounts are produced and the Parish Council reviews its expenditure against the budget.

The monthly accounts for the current financial year are published below:

Asset Register

Parish Councils must maintain an asset register to ensure fixed assets are appropriately safeguarded. A Parish Council’s asset register has four main purposes:

• It forms a basis for decisions on risk and insurance issues.
• It provides information on the age and potential lifespan of certain items.
• It provides assurance of the continued existence of the Council’s property.
• It forms a basis for completion of box 9 in the ‘Annual Return.’

The asset register is updated by the Parish Council at the end of each financial year but is a working document and will be amended as necessary in the interim. The definition of  fixed assets are property, plant and equipment with a useful life of more than one year used by the Council to deliver its services. In order to ensure transparency and reasonableness, the following items are included in the Council’s asset register, whether purchased, gifted or otherwise acquired, together with their holding location:

• land and buildings held freehold or on long term lease in the name of the Council
• community assets
• vehicles, plant and machinery
• assets considered to be portable, attractive or of community significance
• other assets estimated or known to have a minimum purchase or resale value of £100
• long term investments, shares and loans made by the Council

Walkern Parish Council’s Asset Register as adopted on 09 May 2024 is available for download below:

• Asset register

Register of Gifts and Hospitality

The Code of Conduct sets out the rules governing the acceptance of gifts and hospitality. Councillors are required to notify the parish clerk within 28 days of any gift or hospitality received or offered but declined. This is included on the register of gifts and hospitality held by the clerk and can be publicly viewed if requested.

Finance and Audit Archive

In this section you can access previous years finance and audit documentation.

Annual Governance and Accountability Returns and Exercise of Public Rights notices

Prior years’ monthly accounts