The Council has detailed Financial Regulations and a detailed Tendering and Contracting Procedure.
Council Finances are managed and monitored through the Council’s Finance Committee. It regularly reviews procedures to ensure that the council achieves good practice in relation to its finances.
This Committee discusses the Annual Budget for presentation to the Council for approval. Click HERE for the 2015-16 Budget: this includes recommendations as to the level of precept (the portion of the council tax that the Town Council needs for its activities) that it will require Herefordshire Council to collect on its behalf. It also reviews income and expenditure on a quarterly basis (for up to date accounts, as presented to the Finance Committee, please click here) and ensures that the council is achieving Value for Money in relation to its expenditure. All meetings of the Finance Committee are open to the public.
The Council views Value for Money in a broad sense. Value for Money does not mean lowest cost, but fair costs, reflecting the key issues noted in its policies on ethical purchasing, environment and sustainability and local economic well-being in its preference for purchasing from local suppliers.
The Council’s designated Responsible Finance Officer is the Town Clerk, Liz Kelso.
Kington Town Council produces an Annual Report, which highlights its activities during the past year. This Report is presented to the Annual Town Meeting and for the past few years has been widely circulated as an insert in the Kington Chronicle. To read this past year’s report and previous reports, please click on the relevant year below.
The Town Council is required to produce Annual Accounts, which are also presented to the Annual Town Meeting. Requests for further information about the accounts is covered by the Council’s scheme for enquiries under the Freedom of Information Act: click HERE for our Freedom of Information document.