Revision adopted by Town Council May 2018 Next Review Date - November 2018 Aylsham Town Council Financial Risk Assessment FRA6 Risk Description Banking, Investment Arrangements &Controls Location Council Office Staff Involved Financial Officer Control Measures: Internal All banking arrangements and any alterations to banking services approved by full Council and recorded in the Minutes. Bank accounts are constantly checked by the Finance Officer to ensure that sufficient funds are available in the Current Account to meet payments made. Cheques and other supported payment papers are signed by the appointed cheque signatories on a weekly basis. The Finance Officer will initial all payments to indicate compliance with financial procedures. The Finance Officer and the Town Clerk are authorised to make transfers between the Current and Active Saver accounts held with Barclays Bank, manually or via the Internet. Reconciliation of all bank accounts is carried out on a monthly basis by the Finance Officer. These are checked by the Town Clerk and sample checks are made by the Internal Auditor, Auditing Solutions Limited. External All changes to banking instructions, mandates which are pursuant to a Resolution of the Council, will be made in writing, signed by the Finance Officer or the Town Clerk with a hard copy being retained on file. Reviewed By Town Clerk/ Finance Officer (first written June 2003) Date revised March 2018 Revision adopted by Town Council May 2018 Next Review Date: November 2018
Revision adopted by Town Council May 2018 Next Review Date - November 2018 Aylsham Town Council Financial Risk Assessment FRA6 Risk Description Banking, Investment Arrangements &Controls Location Council Office Staff Involved Financial Officer Control Measures: Internal All banking arrangements and any alterations to banking services approved by full Council and recorded in the Minutes. Bank accounts are constantly checked by the Finance Officer to ensure that sufficient funds are available in the Current Account to meet payments made. Cheques and other supported payment papers are signed by the appointed cheque signatories on a weekly basis. The Finance Officer will initial all payments to indicate compliance with financial procedures. The Finance Officer and the Town Clerk are authorised to make transfers between the Current and Active Saver accounts held with Barclays Bank, manually or via the Internet. Reconciliation of all bank accounts is carried out on a monthly basis by the Finance Officer. These are checked by the Town Clerk and sample checks are made by the Internal Auditor, Auditing Solutions Limited. External All changes to banking instructions, mandates which are pursuant to a Resolution of the Council, will be made in writing, signed by the Finance Officer or the Town Clerk with a hard copy being retained on file. Reviewed By Town Clerk/ Finance Officer (first written June 2003) Date revised March 2018 Revision adopted by Town Council May 2018 Next Review Date: November 2018