Part 4 - Financial procedure rules
Below are the financial procedure rules.
Part A: Financial management
- Virement and Year end Balances A.1
- Accounting Policies A.3
- Accounting Procedures and Records A.4
- Annual Statement A.5
Part B: Financial planning
- Budget Approval B.1
- Budget Preparation B.4
- Budget Monitoring and Control B.7
- Capital Programme B.13
- Treatment of year end Under Spend B.19
Part C: Risk management and control of resources
- Risk Management C.1
- Audit and Internal Control C.5
- Preventing Fraud and Corruption C.9
- Security of Assets C.10
- Banking and Treasury Management C.12
Part D: Systems and procedures
- General D.1 Income D.5
- Expenditure D.8
- Payments to Employees and Members D.11
- Taxation D.12
- Trading Accounts D.14
Part E: External arrangements
- Partnerships E.1
- External Funding E.4
- Grants to Outside Bodies E.5
1.1 The Chief Financial Officer/S151 Officer is that person designated for the purpose of Section 151 Local Government Act 1972 and Section 114 Local Government Finance Act 1992.
1.2 Budget Heads are those cost and income headings recorded in the Council’s Budget Book.
1.3 Advice and guidance issued by the Chief Financial Officer includes the Finance Manual, which provide detailed guidance on financial control, audit, accountancy, financial management matters and the design and use of controlled stationery.
1.4 A Service is defined as a discrete area of the County Council’s activity managed by a Director or Head of Service as defined in Part 5 of the Constitution.
1.5 A Scheme in the context of the capital programme may be a single scheme or a package of smaller schemes being carried out in a defined geographical area of works of a similar type.
2.1 These Finance Procedure Rules are that part of the Constitution approved by the Council, which provide the framework for managing the Authority’s financial affairs. They apply to every Member and Officer of the Authority and anyone acting on its behalf with the exception of Schools to which Schools’ Finance Procedure Rules apply.
2.2 The Constitution and Scheme of Delegation identify the financial responsibilities of the full Council, Cabinet and Scrutiny Members, the Head of Paid Service, the Monitoring Officer, the Chief Financial Officer and other Directors.
2.3 All Members and staff have a general responsibility for taking reasonable action to provide for the security of the assets under their control and for ensuring that the use of these resources is legal, is properly authorised, provides value for money and achieves best value.
2.4 The Chief Financial Officer is responsible for maintaining a continuous review of the Finance Procedure Rules and submitting any additions or changes necessary to full Council for approval following consideration by the Cabinet or Leader of the Council or Cabinet Members and Audit and Governance Committee.
2.5 Directors are responsible for ensuring that all staff in their departments are aware of the existence and content of the Authority’s Finance Procedure Rules and other internal regulatory documents (including the Finance Manual) and that they comply with them.
2.6 The Chief Financial Officer is responsible for issuing advice and guidance (for example, the Finance Manual) to underpin the Finance Procedure Rules that Members, Officers and others acting on behalf of the Authority are required to follow.
FINANCIAL REGULATIONFINANCE PROCEDURE RULE A: FINANCIAL MANAGEMENT