Issue - meetings

The Financial Regulations form part of the Constitution and ensure that there are adequate rules to govern the Council’s financial affairs.  This report proposes amendments to the Financial Regulations.

The Committee:

(1)          Noted the comments of the Financial Policy Pane on the proposed amendments to the Financial Regulations at paragraphs 3.4 and 3.5;

(2)          Recommended the updated Financial Regulations for approval by Full Council subject, in the interests of operational efficiency, to the amendment of paragraph 6.13 to permit the reallocation of resources (up to £50,000) between committees to be agreed by the relevant committee chairmen without the need to report to the relevant committees and Strategy and Resources Committee.

The Committee were informed that the Financial Regulations formed part of the Council’s Constitution and were last updated in 2013. Since then, the Council had undergone a number of changes to officer structures.

Consequently, the Financial Regulations need updating to reflect the organisational changes, and to ensure its processes and procedures met the needs for organisational efficiency to achieve good governance.

The updated Financial Regulations were attached at Annexe 1 to the report.  I was noted that job titles had been amended to reflect the organisational structure and references to statutory regulations had also been updated as appropriate.

Accordingly, the Committee:

(1)            Noted the comments of the Financial Policy Pane on the proposed amendments to the Financial Regulations at paragraphs 3.4 and 3.5;

(2)            Recommended the updated Financial Regulations for approval by Full Council subject, in the interests of operational efficiency, to the amendment of paragraph 6.13 to permit the reallocation of resources (up to £50,000) between committees to be agreed by the relevant committee chairmen without the need to report to the relevant committees and Strategy and Resources Committee.