Report by Director of Finance

The Director of Finance submitted a report setting out updated Budget & Policy Framework Procedure Rules and Financial Regulations for adoption.  The revised Budget & Policy Framework Procedure Rules were attached to the report at Appendix 1 and the revised Financial Regulations at Appendix 2.

The report noted that Council was responsible for the adoption of the authority’s budget framework, and for adopting the policy framework, comprised of the policies, plans and strategies set out in Part 3 of the Constitution.  Other policies, plans and strategies, and any successor documents, could be adopted, approved, amended, modified, varied or revoked by the Committee to which the subject function had been delegated, or by the Policy Committee.  The Financial Regulations set out the financial policies and procedures and the framework for managing the Council’s financial affairs.  The Budget & Policy Framework Procedure Rules and the Financial Regulations had been reviewed and updated in order to bring them up to date and to simplify where possible.

At the meeting an amendment was moved and agreed to delete the words ‘must be certified’ and replace with ‘must be submitted for certification’ in paragraph 2.3 of the Budget & Policy Framework Procedure Rules (Appendix 1), relating to amendments to the proposed budget.

The following motion was proposed by Councillor Emberson and seconded by Councillor Terry and CARRIED:

Resolved –

(1)          That the revised Budget & Policy Framework Procedure Rules, as attached to the report at Appendix 1, with the amendment to paragraph 2.3 as agreed at the meeting, be adopted;

(2)       That the revised Financial Regulations, as attached to the report at Appendix 2, be adopted.