FINANCE

Finance

Annual Precept

Every year in December, Fair Oak & Horton Heath Parish Council agrees on its budget and sets its precept for the forthcoming year at a meeting of the Full Council. The precept is the portion of your Council Tax bill which is raised by Eastleigh Borough Council, to fund the services that the Parish Council supplies.

Fair Oak & Horton Heath Parish Council does not receive funding from Central Government, nor does it receive any rates from local businesses. For 2024/25, the precept is £503 338.00 with £117.20 per Band D property. This is a 6.2% increase from the previous year, resulting in a weekly increase of 13p per week per Band D property.

Financial Regulations

Financial Regulations set out the framework within which the Parish Council ensures responsible and sustainable management of the Council's finances.

These regulations are reviewed annually by the Finance Committee.  Any amendments or variations to the Regulations can only be resolved by Full Council.

View the latest Parish Council Financial Regulations 2023.

Financial Management Risk Assessment

This document has been produced to enable the Parish Council to assess the risks it faces and satisfy itself that it has taken adequate steps to minimise and mitigate them.

Based on this recorded assessment, the Parish Council will take all practical and necessary steps to reduce or eliminate the risks, insofar as is practicably possible.

These regulations are reviewed annually by the Finance Committee.  Any amendments or variations to the Regulations can only be resolved by Full Council.

View the latest Parish Council Financial Management Risk Assessment 2023/24

Annual Return

Each year the Parish Council is required to complete and submit an Annual Governance and Accountability Return to its External Auditor.  The public have a right to view the Unaudited Submission of the Annual Accounts as well as the Completed Audited Accounts.  Please see below for relevant links to 'Notice of public rights and publication of unaudited Annual Governance and Accountability Return' and the 'Notice of Conclusion of Audit below for the access dates.

Internal Audit Report

View the Internal Audit Report 2022/2023

Full Accounts Report 

View the Full Accounts Report and Asset Register for 2022/23

Audit Timetable

View the Audit Timetable for 2022-2023

Notice of public rights and publication of unaudited Annual Governance and Accountability Return

View the Notice of Public Rights and the Unaudited Annual Governance & Accountability Return 2022/23

Notice of Conclusion of External Audit 

View the Conclusion of External Audit & Public Notice 2022/23

Payments Over £500

The Local Government Transparency Code (May 2016) recommended that each Town and Parish Council publish information relating to items of expenditure exceeding £500 on a quarterly basis.  View the latest report.

All signatures have been redacted from the Annual Governance and Accountability Return in accordance with the Parish Council GDPR Policy.  If you want to view the unredacted document you may do so as detailed in our Publication Scheme.

Please refer to our Past Reports Page to view records from the last 5 years.