Finance

The unaudited interim financial reports are refreshed quarterly - on 1 April, 1 July, 1 October, and 1 January. Please refer to the financial reports published with the agenda for the monthly meeting of the Corporate Governance Committee for the most recent financial information.

The Asset Register is reviewed and updated at least annually. The most recent register is provided below.

Every year, starting in October, the Council prepares its budget for the following financial year. The difference between revenue income (burial fees, other income, etc.) and revenue expenditure (salaries, maintenance, administrative costs, etc.), less any use of reserves, is the amount the Council will require Colchester City Council to collect via the Council Tax demands issued in April each year. This is known as the Precept.

The Council publishes a list of every invitation to tender for contracts to provide goods and/or services with a value that exceeds £5,000. The list is updated quarterly on 1 January, 1 April 1 July and 1 October.

The Council also publishes details of any contract, commissioned activity, purchase order, framework agreement and any other legally enforceable agreement with a value that exceeds £5,000 in a Contracts Register, which is updated quarterly on 1 January, 1 April, 1 July and 1 October.

For a thirty day period each year including the first ten working days of July, any interested person may, subject to reasonable notice by application to the Parish Clerk, inspect and make copies of the Council's accounting records for the preceding financial year ended 31 March.

By 31 July each year, the Council will publish:

• its unaudited financial statements for the preceding financial year ended 31 March;
• it annual governance statement; and
• a statement by the Council on its financial performance and economy, efficiency and effectiveness in its use of resources over the financial year.

By 30 September each year, the Council will publish:

• its audited statement of accounts together with the certificate or opinion from the external auditor; and
• the approved annual governance statement.

The audited Annual Governance & Accountability Return ('AGAR') for each of the previous five financial years are provided below. Each AGAR provides: 1) the Internal Audit Report; 2) the Annual Governance Statement; 3) the Accounting Statements; and 4) the External Auditor's Report and Certificate, for the financial year.

The Council's financial procedures are governed by the Financial Regulations. They are reviewed and updated at least annually.

The Council appoints an internal auditor to evaluate the effectiveness of its risk management, control and governance processes, taking into account public sector internal auditing standards or guidance. The internal auditor reports annually as part of the Annual Governance and Accountability Return, and periodically as determined by the Council.

The internal auditor's annual reports are within the Annual Governance & Accountability Returns. The most recent interim report is below.

The Council reviews the effectiveness of its internal audit process annually. The most recent report is provided below.