Decision details

The Director of Resources and Deputy Chief Executive submitted a report to recommend to Council the acceptance of the reviewed Financial Regulations and Contract Procedure Rules.

A full review of the existing Financial Regulations had been carried out and the minor changes were summarised as follows:

·         Clarification that where a virement is over £10,000 and requires service

Committee approval, and the virement is to be between Service Committees, then the approving Committee must be the committee offering up the available budget.

·         Update of the post title of the ‘Director of Resources’ to ‘Director of Resources and Deputy Chief Executive’.

A review of the Contract Procedure Rules had also resulted in the following changes:

·         The main change was to update the post title of the ‘Director of Resources’ to ‘Director of Resources and Deputy Chief Executive’.

·         Additionally, there had been an update to the Public Contracts Regulations thresholds.

The revised Financial Regulations and Contract Procedure Rules were appended to the report and would require onward approval by Full Council.

***RESOLVED THAT COMMITTEE:

Recommend to Full Council acceptance of the reviewed Financial Regulations and revised Contract Procedure Rules.