main content Financial Regulations (Corporate)

Every large organisation needs a financial framework which provides the necessary control on financial matters whilst at the same time encouraging "best value" and promoting local accountability.

These regulations outline the approved system of corporate financial control to secure the proper administration of the Council's financial affairs, as required by Section 151 of the Local Government Act 1972. These have been updated for some minor changes which have been approved by Council in March 2004.

Financial Regulations are one of a set of management documents which collectively control and co-ordinate the financial affairs of the Council. Whilst intended to be self-contained, they should therefore be read in the wider context of:

• Financial Regulations for Schools and Colleges;
• all relevant constitutional articles (for regulating the Council's proceedings and business);
• Manual of Personnel Procedures; and
• Scheme of Delegation to Officers.

The achievement of the balance between local responsibility and decision making and the central financial role of the Director of Resources is not easy, and goes to the root of the Council's management style. It is hoped that these Regulations go some way in achieving this balance.

The regulations contain both regulations that must be adhered to and more general guidelines and examples to facilitate good financial control. For ease of reference those where compliance is compulsory are in bold type. Amendments to these regulations can only be made by the Council. Associated with some Financial Regulations there are more detailed Financial Procedures which will set out the standards and working procedures expected.

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Financial Regulations 2004(401k)

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Financial Regulations 2004(366k)

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