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Insurance and Accounting for Councils – a new guide from BHIB Councils Insurance
AUTHOR: LUKE PERKINS, PARTNERSHIPS DEVELOPMENT MANAGER AT BHIB COUNCILS INSURANCE
NALC’s insurance partner, BHIB Councils Insurance, have produced a detailed new guide aimed at providing council insurance and accounting information to new council clerks and councillors.
The guide – Insurance and Accounting for Councils – is designed to offer new clerks and councillors a thorough explanation of the different types of insurance available to councils, as well as provide more information regarding the keeping of council accounts.
Although it is aimed primarily at new clerks and councillors, the guide is also useful as a ‘refresher’ for current council staff looking to better understand the basics of council insurance and accounting.
Following the local elections earlier in the year, BHIB Councils Insurance received a lot of enquiries from new clerks looking to familiarise themselves with the insurance requirements for their council.
They, therefore, teamed up with their accountancy partner, Scribe Accounts, to produce this extensive guide to cover everything a new clerk or councillor needs to know about two key areas of running a council – insurance and accounting.
They have made the guide available to download for free - and would welcome any feedback from councillors and clerks in terms of extra information they would like to see in future versions.
Insurance for councils – what you need to know
This part of the guide looks at some of the most common forms of insurance that local and parish councils typically require, what is generally provided with each form of cover and what the typical cover limits are.
This includes:
- Public liability
- Property damage
- Employers’ liability
- Cyber insurance
The guide also covers risk management advice for local and parish councils, with direct links to BHIB Councils Insurance extensive list of risk assessment templates and checklists for councils. These cover everything from reopening council offices following COVID-19 restrictions and holding ‘COVID-safe’ meetings, to planning community events and protecting employees and volunteers from the health risks associated with working with Display Screen Equipment (DSE).
Accounting for councils – what you need to know
This part of the guide is supplied by Scribe Accounts and is designed to help new local and parish council clerks get a better understanding of accounting terminology and what is required for keeping council accounts.
This includes information regarding submitting Year End Accounts for councils, the difference in requirements if your council is VAT registered or not and the Making Tax Digital initiative and how that might affect your council.