version shall be evidenced by a hard copy schedule signed by the Clerk and the Chair of the Staffing Committee.
4.3 No later than December each year, the RFO shall prepare a draft budget with detailed estimates of all income and expenditure for the following financial year along with a forecast, taking account of the lifespan of assets and cost implications of repair or replacement.
4.4 Unspent budgets for completed projects shall not be carried forward to a subsequent year. Unspent funds for partially completed projects may only be carried forward by placing them in an earmarked reserve with the formal approval of the Council.
4.5 The draft budget including any recommendations for the use or accumulation of reserves, shall be considered by the Finance & General Purposes Committee and a recommendation made to Full Council.
4.6 Having considered the proposed budget, Full Council shall determine its Council tax requirement by setting a budget. The Council shall set a precept for this amount no later than the end of January for the ensuing financial year.
4.7 Any Councillor with Council tax unpaid for more than two months is prohibited from voting on the budget or precept by Section 106 of the Local Government Finance Act 1992 and must and must disclose at the start of the meeting that Section 106 applies to them.
4.8 The RFO shall issue the precept to the billing authority no later than the end of February and supply each Councillor with a copy of the agreed annual budget.
4.9 The agreed budget provides a basis for monitoring progress during the year by comparing actual spending and income against what was planned.
4.10 Any addition to, or withdrawal from, any earmarked reserve shall be agreed by Full Council.
5.1 Councillors and officers are responsible for obtaining value for money at all times. Any officer procuring goods, services or works should ensure, as far as practicable, that the best available terms are obtained, usually by obtaining prices from several suppliers.
5.2 The RFO should verify the lawful nature of any proposed purchase before it is made and in the case of new or infrequent purchases, should ensure that the legal power being used is reported to the meeting at which the order is authorised and also recorded in the minutes.
5.3 Every contract shall comply with these the Council's Standing Orders and these Financial Regulations and no exceptions shall be made, except in an emergency.