Decision details

Financial Regulations

Decision Maker: Audit, Risk and Governance Committee

Decision status: Recommendations approved

Is Key decision?: No

Decisions:

Khadija Saeed, Head of Service Corporate Finance, presented the report on the revised Financial Regulations.

 

Members were advised that the Financial Regulations have now been updated which included the replacement of out of date references, job titles and financial limit increases.  In addition guidance notes to support training and implementation has been referenced (but not included) within the regulations.

 

Members queried the increase in limits in respect of the capital post-completion statement from £70k to £1m and it was confirmed that this was to ensure that it was reflective of the current scale of capital projects.

 

It was also confirmed that in relation to capital projects, the two year deadline for the production of the statement following completion was a required timescale.

 

Resolved: That the proposed revisions to the Financial Regulations be considered and agreed to be submitted to Full Council on the 23 February 2017 for approval.

 

Report author: Jeanette Moister

Date of decision: 30/01/2017

Decided at meeting: 30/01/2017 - Audit, Risk and Governance Committee

Accompanying Documents: