Decision details

29.1   The Committee considered a report by the Director of Finance, Performance and Procurement and the Director of Law and Assurance on a review of Financial Regulations and Procedures (copy appended to the signed minutes).  Members were asked to endorse the revised Financial Regulations for approval by the Regulation, Audit and Accounts Committee (RAAC). The Committee was also asked to endorse a proposal to hold the Treasury Management Policy Statement and the Financial Procedures outside of the Council’s Constitution in future. Members were told that the proposals would be submitted to the Council in July for approval before RAAC was asked to approve the changes at its meeting at the end of July.

29.2   Resolved –

(1)     That the revised Financial Regulations be endorsed for onward approval by the Regulation, Audit and Accounts Committee;

(2)     That the proposal to hold the Treasury Management Policy Statement and the Financial Procedures outside of the Council’s Constitution be endorsed for onward approval by the County Council on 20 July 2018, as part of the current review of the Constitution, subject to endorsement by the Regulation, Audit and Accounts Committee at its meeting on 23 July 2018; and

(3)     That the Financial Regulations and Financial Procedures are reviewed in 2021.