Policies

Market Deeping Town Council

Policy

Trust Funds

In the event that Market Deeping Town Council (MDTC) has a requirement to operate and manage a Trust Fund, members will adopt this policy.

• MDTC would discharge its accountability responsibility for the fund (s) / assets, including financial reporting, and if required independent examination or audit.

MDTC will achieve this by:

• Engaging with a third party supplier to manage and produce quarterly financial reports for the trust fund (s).
• Assign an independent auditor to conduct quarterly audits on the financial reports.

Note: Financial reporting for the above is not to be included in the Council’s general accounts which is funded from the authority’s precept. This means that any financial reporting for any Trust fund will not be recorded using the Omega system, or any other financial reporting system that MDTC may be using at that time.