The full Council is responsible for the scrutiny and decision-making around finances, and the Responsible Financial Officer (RFO) is responsible for the management of the Council's accounts. The Clerk at Sway is also the RFO and provides monthly payment schedules and bank reconciliations, along with quarterly budget reports and financial reviews. The Council will appoint a working group to prepare a draft budget but only the full Council can set (legally approve) the budget and Precept which forms the tax demand for Sway residents. To review the Council's Financial Regulations and other key financial documents including AGARs, please see the Financials tab of Council Documents page.