Local Council financial rules
The Council is bound by law to manage its finances effectively, with sound systems and procedures, in accordance with Section 27 of the Audit Commission Act 1998. The Responsible Financial Officer (RFO), in smaller councils usually the same person as the Clerk, administers all the financial affairs within the policy direction of the council itself. This includes assisting the council in its decisions about the use of its resources (including the precept), maintaining all records and preparing the accounts to be audited each year. A full copy of the Financial Regulations is reviewed each year at the Annual Meeting and can be downloaded here.