This 60 second guide is for residents, parish councillors and clerks who wish to gain a brief understanding of town and parish council reserves, bank accounts and bank reconciliations.


Article Contents - Click on a link below

Should Town and Parish councils have reserves?

What type of reserves should councils have?

Must every reserve have a bank account?

Should transfers between reserves be minuted?

Should transfers between bank accounts be minuted?

What is a bank reconciliation?

How often should bank accounts be reconciled?

How often should bank reconciliations be independently checked?

What should be on the bank reconciliation?

What should you look for when checking a bank reconciliation?

Who should check the bank reconciliation?

Why should a bank reconciliation be independently checked?


This guide is indicative and not definitive, if in doubt get someone else involved or seek professional advice.


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