Redmarshall Parish Council
Topic Risk Identified H/M/L Management of Risk Action Audit Fequency
Income
Precept Not Submitted L Check Borough Council Minutes Annually 24
  Not paid by Borough Council L Check Bank statements Annually 24
  Adequacy of Precept H Monthly review of budget to actual Monthly 12
VAT VAT Analysis L Check Accounts Diary 24
  VAT Claims M Agree VAT claim every two years Diary 24
Bank Income Too much money in Current Account H Use Deposit Account for Precept etc. Monthly 24
  Transfer Money H As and when required Monthly 24
Expenditure
Clerk's Salary Wrong amount paid M Check previous payment dates and amounts Diary 12
  National Insurance & PAYE M Check previous payment dates and amounts Diary 12
Clerk Expenses Wrong amount claimed or paid M All claims to be invoiced and agreed Diary 24
Cllr. Expenses Wrong amount claimed or paid L All claims to be invoiced and agreed Diary 24
Legal Powers Illegal activity or payment M Power used for expenditure on unusual items to be minuted. (ie Section 137 Expenditure) Diary 24
         
Staff/Councillors Fraud L Cheques authorised by two signatures Diary 24
Reserves Adequacy L Consider at budget setting Diary 24
Assets Loss or damage M Annual inspection & Asset Register Diary 12
  Third Party claims L Review Public Liability Insurance  Diary 12
Best Value Overspend of services L Ensure correct tendering for services. Ongoing 24
General
Financial Records Inadequate Records L Audited monthly Diary 24
Minutes Accurate & legal L Review at next meeting Diary 24
Members Interests Conflict of Interest M Update declarations of interest Diary 12