Osbaston Parish Council

Council Audit and Annual Return

Osbaston Parish Council has a legal duty under the Local Audit & Accountability Act 2014 and the Accounts & Audit Regulations 2015 to inform residents and taxpayers about how public funds are managed, accounted for, and audited. We fulfill this responsibility in several ways:

Parish Council Meetings

At each Parish Council meeting, all payments are reviewed and approved by Councillors. These payments, along with the amounts requested, are listed on the meeting agenda under the relevant item. Additionally, Councillors review and approve bank reconciliations and conduct quarterly budget monitoring to ensure financial transparency.

Internal Audit

An independent internal auditor is appointed annually to review the Council’s accounts and assess internal controls. The auditor provides a report on their findings to the Council and completes the Annual Governance and Accountability Review (AGAR), confirming that the Council's financial management and controls are both effective and transparent.

Transparency Code for Smaller Authorities

In 2017, changes to the external audit process introduced new requirements for smaller councils with annual expenditure under £25,000. Such councils, including Osbaston Parish Council, are eligible to certify themselves as exempt from external audits under the Transparency Code for Smaller Authorities.

This change emphasizes the role of local residents in holding councils accountable. However, the Council still conducts an internal audit and publishes financial documents to maintain transparency. These documents, as required by the Transparency Code, are available on this website.

External Audit Requirements

If the Council's annual expenditure exceeds £25,000, an external audit will be carried out. Until that threshold is reached, Osbaston Parish Council will continue to certify itself as exempt.

Your Rights as a Local Elector

As a registered local government elector, you have the legal right to:

• Inspect the Council’s accounts.
• Ask questions about financial decisions.
• Challenge items in the Council's accounts.

For more information, refer to the National Audit Office's guide: Council Accounts – A Guide to Your Rights.

By maintaining robust financial practices and adhering to these requirements, Osbaston Parish Council remains committed to transparency and accountability.