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Terms of Reference for the Policy, Governance and Finance Committee

Overall Purpose

To ensure that the Council’s finances, staffing, statutory obligations, and governance are managed effectively and in accordance with legal and regulatory requirements, while supporting the strategic direction and service delivery of the Council.

1. Policy

a)      To consider, keep under review and make recommendations to the Council as appropriate:

·        The Council’s strategic objectives and priorities.

·        All major issues of national and local policy affecting the town, including new government legislation.

·        Council policies.

·        The development of existing and introduction of new services, including grounds maintenance.

·        Relationships with West Oxfordshire District Council, Oxfordshire County Council, other public bodies, and outside organisations.

b)     To consider the resources available to meet the Council’s objectives in terms of land, property, finance, and manpower and to advise other committees and the Council as required.

c)      Within all decision-making, ensure that the green environment and biodiversity of public open spaces is protected and enhanced in line with the Council’s Climate Emergency aspirations.

d)     To oversee and ensure social value outcomes are considered in policy development.

2. Governance

e)     Oversee Council administration, legal compliance, and be responsible to the Council for reviewing the effectiveness and efficiency of all services.

f)       Review and monitor:

·        Council corporate and financial risk register, insurance, and legal matters.

·        Data protection, FOI, and related statutory duties.

·        Committee structures and delegated responsibilities.

·        Banking arrangements

g)      To consider community governance matters including elections and electoral arrangements, town boundaries, and the impact of future changes to Local Government structure and devolution.

h)     Overall management of Council assets (including land), records, and operational premises (including those under other committees).

i)       To oversee and approve tendering and purchasing arrangements ensuring compliance with the Council’s Financial Regulations and Procurement Act 2023.

j)       Provide oversight of contracts, major capital projects and investment properties including those leased to the Council.

k)      Hold overall responsibility for employment matters via the personnel sub-committee.

l)       Consider matters affecting Members, including Member allowances (if appropriate) and the annual calendar of meetings.

m)    To receive reports from the internal and external auditors, review actions required and ensure effective internal controls.

n)     To appoint the Council’s independent Internal Auditor.

3. Finance

o)     Oversee the Council’s finances (including investments), ensuring legal and regulatory compliance

p)     Prepare and recommend the annual budget and precept for approval by Council.

q)     Review and approve:

·       Estimates of income and expenditure from all committees.

·       Fees, charges, and funding levels.

·       Annual Governance & Accountability Return, and financial statements.

r)      To consider and approve grant applications in accordance with adopted policy, and to recommend larger or exceptional grants to Full Council

s)      To act as the Council’s Audit Committee and to

·     Review and authorise Council payments in accordance with Financial Regulations.

·     Monitor budgeted vs actual income/expenditure.

·     Act as a financial scrutiny panel.

t)      Approve or recommend additional expenditure beyond approved limits.

u)     Maintain oversight of financial systems, controls, and reporting.

v)     To develop and monitor the Council’s Medium-Term Financial Plan and Capital Programme

Committee Membership & Quorum

·        6 Councillors (made up of the Chairs of the standing Committees) plus the Leader and Town Mayor (ex officio).

·        Quorum: 4 Members.

·        The Committee may make recommendations to Full Council on any matter within its remit.