Issue - meetings
Financial Regulations
Meeting: 15/09/2021 - Finance, Audit and Risk Committee (Item 12)
12 FINANCIAL REGULATIONS REVIEW 
PDF 232 KB
REPORT OF THE SERVICE DIRECTOR – RESOURCES
To consider the proposed review of the Financial Regulations.
Additional documents:
- Appendix A: Explanation of proposed changes to Financial Regulations, item 12
PDF 416 KB
- Appendix B: proposed new regulations, item 12
PDF 836 KB
Decision:
RECOMMENDED TO COUNCIL: The proposed changes should be adopted.
REASON FOR DECISION: The constitution requires that the Financial Regulations are kept under review. Minor changes can be approved by the Chief Financial Officer, but more significant changes are approved by Council.
Minutes:
Audio Recording – 43 minutes 59 seconds
The Service Director – Resources presented a report entitled Financial Regulations Review and advised:
· There have been no fundamental changes. This report highlighted those changes and all the changes, with reasons, were outlined in Appendix A.
The following Members asked questions:
· Councillor Adam Compton
· Councillor Clare Billing
In response to questions asked the Service Director – Resources advised:
· There has been a combination of goods receipting and invoice payment without a purchase order. Move towards the purchase order, goods receipting and invoice payment three way match.
· Budgets are sometimes allocated to one code and later spread across other budget codes; therefore, it may not be appropriate to block requests over budgets, but this would be looked at in more detail.
· The SAFS powers are mirrored by SIAS in relation to council employees.
Following a vote, it was:
RECOMMENDED TO COUNCIL: The proposed changes should be adopted.
REASON FOR DECISION: The constitution requires that the Financial Regulations are kept under review. Minor changes can be approved by the Chief Financial Officer, but more significant changes are approved by Council.