| 1 Delegated Powers |
| 1.1 |
To keep under review and advise Council as necessary on the arrangements for the efficient control and management of the Council’s financial affairs and on the financial standing of the Council. |
| 1.2 |
To keep under review and advise Council as necessary on external financial regulations as they relate to Council affairs. |
| 1.3 |
To keep under review and advise Council as necessary on official control of the Council’s insurance arrangements. |
| 1.4 |
To consider annual estimates of income and expenditure, including the provision for capital expenditure and make recommendations to Council. The committee shall recommend to Council the Precept to be levied for the ensuing year. |
| 1.5 |
To advise Council on actions to secure the future well being of the Council’s assets. |
| 1.6 |
To keep under review, monitor and advise Council as necessary on any financial implications of the Rother Street Market. |
| 1.7 |
To receive reports from the Town Clerk on any proposals of other committees that has significant financial implications so that Council can take the views of the committee into account. |
| 1.8 |
To receive proposals from other committees that have significant financial implications on the Council, including the setting of Cemetery and Town Hall letting fees and to advise the committee and subsequently Council on the viability of such proposals before implementation. |
| 1.9 |
To consider and advise Council on borrowing/investment policies. |
| 1.10 |
To advise Council of debt write-offs. |
| 1.11 |
To keep under review arrangements for securing value for money and safeguarding assets. |
| 1.12 |
To consider, report and advise Council on the release of funds from reserves. |
| 1.13 |
To report and recommend to Council any significant virement between budget heads. |
| 1.14 |
To keep under review any capital spending needs of Council. |
| 1.15 |
To advise Council on any such matters as Council may, from time to time, remit to it. |
| 1.16 |
To consider and report to Council on any proposed purchase or sale of property. |
| 1.17 |
To recommend and report to Council a Risk Management Strategy to be reviewed at least annually in liaison with the other Standing Committees. |
| 1.18 |
To recommend to Council the level of expenditure required for the allocation of Grants and Special Projects. |
| 1.19 |
To review its Terms of Reference at least annually. |
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| 2 Membership |
| 2.1 |
Council shall determine membership of the Committee from time to time. |
| 2.2 |
Membership of the Committee shall comprise nine members. In addition, the Mayor and Deputy Mayor shall also be ex-officio unless either are already a standing member of that Committee. |
| 2.3 |
The Committee may co-opt non voting members on to the Committee with relevant skill, experience and knowledge consistent with these Terms of Reference. |
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| 3 Quorum |
| 3.1 |
The Committee shall be quorate when five voting members are present. |
| 3.2 |
If less than five voting members are present, the business may still be transacted but any decision will require ratification by Council. |
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| 4 Committee Chairman |
| 4.1 |
The Committee will elect a Chairman and Vice Chairman from their number in accordance with the procedure as specified in Council’s Standing Orders. |
| 4.2 |
If the Chairman is not present, the Vice Chairman will take the meeting. If neither is present, members will elect a Chairman for the meeting from amongst their number. |
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| 5 Clerking Arrangements |
| 5.1 |
The Town Clerk will ensure that appropriate clerking arrangements are in hand for the Committee. |
| 5.2 |
The Committee shall keep Minutes of its transactions and shall cause the Minutes to be recorded in books kept for that purpose by Council. |
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| 6 Frequency and Timing of Meetings |
| 6.1 |
The Committee shall meet not less that six times a year. Meetings shall normally be held at 6.30 p.m. on a Tuesday in the Town Hall. |
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| 7 Standing Orders |
| 7.1 |
The Standing Orders of Council will apply to the running of the Committee as appropriate. |
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Town Clerk
December 2003 |
Stratford-upon-Avon Town Council
