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Financial Regulations

Financial regulations are the framework within which the financial affairs of the Authority operate, and apply to all the Authority’s activities. The regulations identify responsibilities in full, but from a commonsense point of view can be summarised as follows:

Major financial decisions, including setting the annual budget, must be taken by members as advised by the Treasurer.
The Authority encourages the Chief Officer and his staff to take as much day-to-day responsibility for financial management of the service as possible within the agreed budget.
The Treasurer (for financial matters) and the Clerk (for legal matters) have statutory responsibilities and should be consulted on significant issues or where members or officers have any doubt about the correctness of a possible action.
Spending must be regularly monitored to ensure that it stays within approved budgets.
Members, as advised by the Treasurer, Clerk and Chief Officer, are responsible for identifying significant risks to the Authority and for putting in place a strategy to deal with them.
Payments, including to employees, can only be made through arrangements approved by the Treasurer and within detailed procedures laid down.
All partnership arrangements must take account of appropriate financial and legal matters.

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