UPTON PARISH COUNCIL
FINANCE COMMITTEE MEETING
Sunday 25 October 2026 at 7.00 pm
Meeting Room, Upton Village Hall
Date of Notice: 20th October 2026
To: All Members of the Finance Committee
You are hereby summoned to attend a meeting of Upton Parish Council’s Finance Committee, to be held in the Meeting Room, Upton Village Hall, on Sunday 25 October 2026 at 7.00 pm, to consider the business set out in the agenda below.
Members of the public and press are welcome to attend. Anyone intending to attend is encouraged to contact the Clerk in advance to assist with seating arrangements.
Benjamin Shaw
Clerk & Responsible Financial Officer
Upton Parish Council
AGENDA
- Apologies for Absence
To receive and consider apologies for absence.
- Election of Chair of the Finance Committee
To elect a Chair of the Finance Committee, if required under the Committee’s adopted Terms of Reference.
- Declarations of Interest
To receive declarations of disclosable pecuniary interests and other relevant interests relating to items on the agenda.
- Approval of Previous Finance Committee Minutes
To consider and approve the minutes of the Finance Committee meeting held on 15 October 2025 as an accurate record, subject to confirmation that these are the most recent minutes requiring approval.
- Matters Arising and Outstanding Actions
To review progress against actions and recommendations arising from previous Finance Committee meetings.
- Public Participation
To provide an opportunity for members of the public to raise matters relevant to the Committee’s financial responsibilities, in accordance with the Council’s adopted procedures.
- Finance Committee Terms of Reference
7.1 To review the Committee’s adopted Terms of Reference.
7.2 To consider the Committee’s delegated financial responsibilities and reporting arrangements.
7.3 To recommend any necessary amendments to Full Council for approval.
- Financial Position and Bank Reconciliation – 2026/27
8.1 To receive the latest bank balances for all Council accounts.
8.2 To review the cashbook and bank reconciliations.
8.3 To review outstanding payments, receipts and financial commitments.
8.4 To consider the adequacy of supporting financial records and reporting arrangements.
8.5 To identify any discrepancies or outstanding reconciliation matters requiring further investigation.
- Budget Monitoring and Projected Year-End Position – 2026/27
9.1 To review actual receipts against the approved budget.
9.2 To review actual payments against the approved budget.
9.3 To consider significant budget variances and supporting explanations.
9.4 To review projected income and expenditure to 31 March 2027.
9.5 To identify anticipated overspends, underspends and emerging financial pressures.
9.6 To recommend any necessary changes to expenditure priorities for consideration by Full Council.
- Preparation of Draft Budget – 2027/28
To consider the Council’s financial requirements for the period 1 April 2027 to 31 March 2028.
10.1 Estimated income, including precept, interest, grants, donations and other receipts.
10.2 Estimated expenditure on administration and routine services.
10.3 Recreation Ground maintenance and operating expenditure.
10.4 Village infrastructure and asset maintenance.
10.5 Staffing and employment costs.
10.6 Regular contractors and contractual commitments.
10.7 Insurance, professional fees, subscriptions and training.
10.8 Inflation, contingency provisions and anticipated cost increases.
10.9 Proposed new projects and expenditure priorities.
10.10 Preparation of a draft budget for recommendation to Full Council.
- Medium-Term Financial Forecast
11.1 To consider a three-year financial forecast covering 2027/28 to 2029/30.
11.2 To assess the anticipated effect of inflation, contractual obligations and maintenance requirements.
11.3 To consider the affordability of proposed capital projects.
11.4 To identify potential future pressures on the precept and reserves.
- Banking Arrangements and Recurring Payments
12.1 To review the Council’s banking arrangements and interest-bearing accounts.
12.2 To review existing standing orders, including Microsoft 365.
12.3 To review direct debits, including Tesco Mobile.
12.4 To review other recurring payments and subscriptions.
12.5 To consider payment authorisation procedures and banking controls.
12.6 To identify any unnecessary expenditure or opportunities to reduce recurring costs.
- VAT Accounting and Recovery
13.1 To review VAT expenditure recorded during 2026/27.
13.2 To review the status of VAT recovery claims submitted to HMRC.
13.3 To identify any outstanding VAT claims.
13.4 To consider the adequacy of VAT records and supporting invoices.
13.5 To review any relevant VAT implications associated with proposed projects and expenditure.
- Existing Financial Commitments and Contracts
14.1 To review the Council’s existing contractual commitments.
14.2 To review grounds maintenance arrangements and anticipated costs.
14.3 To review annual and routine playground inspection costs.
14.4 To consider insurance premiums, professional fees and other recurring obligations.
14.5 To identify contracts approaching renewal and any procurement requirements.
14.6 To consider financial provision for grants and community contributions.
- Staffing Budget and Employment Costs
15.1 To review current contractual staffing expenditure and budgeted working hours.
15.2 To consider applicable NALC/NJC pay scales and agreed or anticipated pay awards.
15.3 To review employer National Insurance and pension obligations, where applicable.
15.4 To consider overtime arrangements and budget provision.
15.5 To consider training and professional development expenditure.
15.6 To recommend the staffing budget provision required for 2027/28.
- Council Reserves and Earmarked Funds
16.1 To review the Council’s current general reserves.
16.2 To review existing earmarked reserves and their designated purposes.
16.3 To identify restricted funds and any associated conditions.
16.4 To consider reserve requirements for asset replacement and unforeseen expenditure.
16.5 To review the financial provision required for ongoing maintenance liabilities.
16.6 To recommend an appropriate level of general and earmarked reserves for 2027/28.
- Chapel Furlong – Financial Position and Future Commitments
17.1 To review the financial position following the acquisition of Chapel Furlong.
17.2 To review expenditure incurred and any outstanding financial commitments.
17.3 To identify any remaining restricted or earmarked funds associated with the land.
17.4 To consider anticipated maintenance, insurance and land-management costs.
17.5 To consider potential costs associated with future community use and development proposals.
17.6 To identify opportunities for grants and external funding.
17.7 To recommend appropriate budget and reserve provisions for 2027/28.
- Recreation Ground – Maintenance and Capital Replacement Programme
18.1 To review anticipated expenditure on playground maintenance and repairs.
18.2 To consider financial provision for the swing beam and cableway, subject to professional assessments and any relevant insurance matters.
18.3 To review playground safety surfacing requirements.
18.4 To consider annual inspection and maintenance expenditure.
18.5 To consider expenditure associated with the Recreation Ground storage container.
18.6 To develop a three-to-five-year maintenance and equipment replacement forecast.
18.7 To recommend appropriate capital and maintenance budget allocations.
- Other Capital Projects and Asset Maintenance
19.1 To identify other proposed capital projects for 2027/28.
19.2 To review anticipated repairs and replacement of Council assets.
19.3 To consider village infrastructure, street furniture and other physical assets.
19.4 To prioritise proposed expenditure according to need, affordability and available funding.
19.5 To recommend capital expenditure priorities to Full Council.
- Grants, Donations and External Funding
20.1 To review existing grants and donations received.
20.2 To consider opportunities for external funding towards Council projects.
20.3 To review any outstanding grant applications.
20.4 To consider whether budget provision should be made for outgoing community grants.
20.5 To identify projects that may qualify for external funding before committing precept income.
- Proposed Precept – 2027/28
21.1 To consider the proposed budget for 2027/28.
21.2 To review the Council’s projected year-end balances and reserves requirements.
21.3 To consider the council tax base supplied by Vale of White Horse District Council, when available.
21.4 To compare alternative precept scenarios.
21.5 To consider the estimated Band D council tax impact of each scenario.
21.6 To agree a recommended precept for submission to Full Council for formal consideration and approval.
- Financial Regulations and Internal Financial Controls
22.1 To review the Council’s adopted Financial Regulations.
22.2 To consider financial authorisation and payment procedures.
22.3 To review procurement requirements and expenditure controls.
22.4 To consider budget monitoring and reporting arrangements.
22.5 To identify any amendments required following audit recommendations or changes in legislation or guidance.
22.6 To recommend any proposed amendments to Full Council.
- External Audit 2025/26 – Findings and Corrective Action Plan
23.1 To review the findings and recommendations contained in the external auditor’s report.
23.2 To review the treatment of internal bank transfers and AGAR accounting figures.
23.3 To consider the classification of staffing-related payments, including homeworking allowances.
23.4 To review the accuracy of comparative figures and supporting financial schedules.
23.5 To consider the Council’s arrangements for the exercise of public rights and publication of statutory financial information.
23.6 To review progress against recommendations carried forward from previous audits.
23.7 To review the corrective action plan, including responsible officers and target completion dates.
23.8 To recommend any further action required to Full Council.
- Financial Reporting and Year-End Timetable
24.1 To review the timetable for regular budget monitoring and financial reporting.
24.2 To consider arrangements for circulating financial information to Councillors in advance of meetings.
24.3 To establish the proposed timetable for preparing the 2026/27 year-end accounts.
24.4 To consider arrangements for the 2026/27 internal audit and AGAR.
24.5 To identify any additional administrative or professional support required.
- Asset Register and Financial Liabilities
25.1 To review the Council’s current Asset Register.
25.2 To reconcile asset records with the financial statements and AGAR reporting requirements.
25.3 To identify additions, disposals and assets requiring correction or revaluation for insurance purposes.
25.4 To review anticipated asset maintenance and replacement liabilities.
25.5 To recommend any necessary changes to Full Council.
- Risk Management and Financial Risk Assessment
26.1 To review the adequacy of the Council’s financial risk-management arrangements.
26.2 To consider fraud prevention and internal controls.
26.3 To review financial risks associated with Council assets and public facilities.
26.4 To consider financial exposure arising from contractual and statutory obligations.
26.5 To recommend any necessary amendments to the Council’s Risk Management Policy.
- Insurance Cover and Financial Exposure
27.1 To review the adequacy of existing insurance cover.
27.2 To consider Public Liability and Employers’ Liability arrangements.
27.3 To review buildings, equipment and other insured assets.
27.4 To consider insurance arrangements for volunteers and community activities.
27.5 To review insurance requirements associated with Chapel Furlong and the Recreation Ground.
27.6 To consider anticipated insurance costs for 2027/28.
- Recommendations to Full Council
To agree the recommendations arising from the meeting, including:
28.1 Draft budget for 2027/28.
28.2 Proposed precept for 2027/28.
28.3 General and earmarked reserves.
28.4 Capital projects and maintenance expenditure.
28.5 Financial Regulations and risk-management arrangements.
28.6 External audit corrective actions.
28.7 Any other financial recommendations arising from the Committee’s consideration of the published agenda.
- Date of Next Finance Committee Meeting
To consider the date of the next Finance Committee meeting.