Part 4 - Financial procedure rules
Below are the financial procedure rules.
E.1 The Chief Financial Officer must ensure that accounting arrangements adopted relating to partnerships and joint ventures are satisfactory and that the overall corporate governance arrangements are satisfactory when contracts are arranged with external bodies. They must also consider the overall corporate governance arrangements and legal issues when arranging contracts with external bodies. The Chief Financial Officer must ensure that the risks have been fully appraised before agreements are entered into with external bodies.
E.2 The Monitoring Officer must also consider the overall corporate governance arrangements and legal issues when arranging contracts with external bodies.
E.3 Directors are responsible for ensuring that appropriate risk assessments are undertaken and approvals are obtained before any negotiations are concluded relating to work with external bodies and that all agreements and arrangements are properly documented, including details of the County Council’s financial and physical commitment to the arrangements which are to be in accordance with the Council’s procedures.
E.4 The Chief Financial Officer is responsible for ensuring that all funding notified by external bodies is received and properly recorded in the Authority’s accounts.
Grants to outside bodies:
E.5 Directors are authorised to approve grants and annual assistance to external bodies, subject to the scheme of delegation, rules concerning key decisions and other requirements of the Finance Procedure Rules and related guidance and this approval being formally recorded. Grants to Academies and Voluntary Aided Schools follow different rules.
E.6 Where the Council is using grant monies itself or passing it on to a third party, the application of that money shall be subject to the requirements of the relevant grant funding body.
E.7 In considering the award of a grant, Directors shall have regard to the law on state aid/subsidy control and best value.
E.8 Before entering into any arrangement where the Council takes on accountable body status, appropriate advice must be sought from the Assistant Director of Finance, Assistant Director of Strategic Procurement and the Assistant Director of Legal Services.