TYDD ST MARY PARISH COUNCIL
Hedgeview, 231 Broadgate, Sutton St Edmund, Spalding, Lincs,
PE120LT
E mail tyddstmarypc@gmail.com
Financial Regulations
Contents
2. Risk management and internal control
11. Payment of salaries and allowances
14. Payments under contracts for building or
other construction works
16. Assets, properties and estates
19. Suspension and revision of Financial
Regulations
These Financial
Regulations were adopted by the council at its meeting held on 1/7/24
1.1.
These
Financial Regulations govern the financial management of the council and may
only be amended or varied by resolution of the council. They are one of the
council’s governing documents and shall be observed in conjunction with the
council’s Standing Orders.
1.2.
Councillors
are expected to follow these regulations and not to entice employees to breach
them. Failure to follow these regulations brings the office of councillor into
disrepute.
1.3.
Wilful
breach of these regulations by an employee may result in disciplinary
proceedings.
1.4.
In
these Financial Regulations:
·
‘Accounts
and Audit Regulations’ means the regulations issued under Sections 32, 43(2)
and 46 of the Local Audit and Accountability Act 2014, or any superseding
legislation, and then in force, unless otherwise specified.
·
“Approve”
refers to an online action, allowing an electronic transaction to take place.
·
“Authorise”
refers to a decision by the council, or a committee or an officer, to allow
something to happen.
·
‘Proper
practices’ means those set out in The
Practitioners’ Guide
·
Practitioners’ Guide refers to the guide issued by the Joint
Panel on Accountability and Governance (JPAG) and published by NALC in England or
Governance and Accountability for Local Councils in Wales – A Practitioners
Guide jointly published by One Voice Wales and the Society of Local Council
Clerks in Wales.
·
‘Must’
and bold text refer to a statutory obligation the council cannot change.
·
‘Shall’
refers to a non-statutory instruction by the council to its members and staff.
1.5.
The
Responsible Financial Officer (RFO) holds a statutory office, appointed by the
council. The Clerk has been appointed as RFO and these regulations apply accordingly. The RFO;
·
acts
under the policy direction of the council;
·
administers
the council's financial affairs in accordance with all Acts, Regulations and
proper practices;
·
determines
on behalf of the council its accounting records and control systems;
·
ensures
the accounting control systems are observed;
·
ensures
the accounting records are kept up to date;
·
seeks
economy, efficiency and effectiveness in the use of council resources; and
·
produces
financial management information as required by the council.
1.6.
The
council must not delegate any decision regarding:
· setting the final budget or the precept
(council tax requirement);
· the outcome of a review of the
effectiveness of its internal controls
· approving accounting statements;
· approving an annual governance statement;
· borrowing;
· declaring eligibility for the General
Power of Competence; and
· addressing recommendations from the
internal or external auditors
1.7.
In
addition, the council shall:
·
determine
and regularly review the bank mandate for all council bank accounts;
·
authorise
any grant or single commitment in excess of £5,000;
and
2.1.
The
council must ensure that it has a sound system of internal control, which
delivers effective financial, operational and risk management.
2.2.
The
Clerk shall prepare, for approval by the council, a risk management policy
covering all activities of the council. This policy and consequential risk
management arrangements shall be reviewed by the council at least annually.
2.3.
When
considering any new activity, the Clerk [or Councils Risk Assessment Officer]
shall prepare a draft risk assessment including risk management proposals for
consideration by the council.
2.4.
At
least once a year, the council must review the effectiveness of its system of
internal control, before approving the Annual Governance Statement.
2.5.
The
accounting control systems determined by the RFO must include measures to:
· ensure that risk is appropriately managed;
· ensure the prompt, accurate recording of
financial transactions;
· prevent and detect inaccuracy or fraud;
and
· allow the reconstitution of any lost records;
· identify the duties of officers dealing
with transactions and
· ensure division of responsibilities.
2.6.
At least
once in each quarter, and at each financial year end, a member other than the
Chair or a cheque signatory shall be appointed to verify bank reconciliations
(for all accounts) produced by the RFO. The member shall sign and date the
reconciliations and the original bank statements (or similar document) as
evidence of this. This activity, including any exceptions, shall be reported to
and noted by the council .
2.7.
Regular
back-up copies shall be made of the records on any council computer and stored
either online or in a separate location from the computer. The council shall put measures in place to
ensure that the ability to access any council computer is not lost if an
employee leaves or is incapacitated for any reason.
3.1.
All
accounting procedures and financial records of the council shall be determined
by the RFO in accordance with the Accounts and Audit Regulations.
3.2.
The
accounting records determined by the RFO must be sufficient to explain the
council’s transactions and to disclose its financial position with reasonably
accuracy at any time. In
particular, they must contain:
· day-to-day entries of all sums of money
received and expended by the council and the matters to which they relate;
·
a
record of the assets and liabilities of the council;
3.3.
The
accounting records shall be designed to facilitate the efficient preparation of
the accounting statements in the Annual Governance and Accountability Return.
3.4.
The
RFO shall complete and certify the annual Accounting Statements of the council
contained in the Annual Governance and Accountability Return in accordance with
proper practices, as soon as practicable after the end of the financial year. Having certified the Accounting Statements, the
RFO shall submit them (with any related documents) to the council, within the
timescales required by the Accounts and Audit Regulations.
3.5.
The
council must ensure that there is an adequate and effective system of internal
audit of its accounting records and internal control system in accordance with
proper practices.
3.6.
Any
officer or member of the council must make available such documents and records
as the internal or external auditor consider necessary for the purpose of the
audit and shall, as
directed by the council, supply the RFO, internal auditor, or external auditor
with such information and explanation as the council considers necessary.
3.7.
The
internal auditor shall be appointed by the council and shall carry out their
work to evaluate the effectiveness of the council’s risk management, control
and governance processes in accordance with proper practices specified in the
Practitioners’ Guide.
3.8.
The
council shall ensure that the internal auditor:
·
is competent
and independent of the financial operations of the council;
·
reports
to council in writing, or in person, on a regular basis with a minimum of one
written report during each financial year;
·
can
demonstrate competence, objectivity and independence, free from any actual or
perceived conflicts of interest, including those arising from family
relationships; and
·
has
no involvement in
the management or control of the council
3.9.
Internal
or external auditors may not under any circumstances:
·
perform
any operational duties for the council;
·
initiate
or approve accounting transactions;
·
provide
financial, legal or other advice including in relation to any future
transactions; or
·
direct
the activities of any council employee, except to the extent that such
employees have been appropriately assigned to assist the internal auditor.
3.10.
For
the avoidance of doubt, in relation to internal audit the terms ‘independent’
and ‘independence’ shall have the same meaning as described in The
Practitioners Guide.
3.11.
The
RFO shall make arrangements for the exercise of
electors’ rights in relation to the accounts, including the opportunity to
inspect the accounts, books, and vouchers and display or publish any notices
and documents required by the Local Audit and Accountability Act 2014, or any
superseding legislation, and the Accounts and Audit Regulations.
3.12.
The
RFO shall, without undue delay, bring to the attention of all councillors any
correspondence or report from internal or external auditors.
4.1.
Before
setting a precept, the council must calculate its council tax requirement for
each financial year by preparing and approving a budget, in accordance with The
Local Government Finance Act 1992 or succeeding legislation.
4.2.
Budgets for salaries and wages, including
employer contributions shall be reviewed by the council at least annually in
October for the following financial year and the final version shall be
evidenced by a hard copy schedule signed by the Clerk and the Chair of the
Council.
4.3.
No later than December each year, the RFO
shall prepare a draft budget with detailed estimates of all receipts and
payments for the following financial year along with a forecast for the
following three financial years, taking account of the lifespan of assets and
cost implications of repair or replacement.
4.4.
Unspent budgets for completed projects shall
not be carried forward to a subsequent year. Unspent funds for partially
completed projects may only be carried forward (by placing them in an earmarked
reserve) with the formal approval of the full council.
4.5.
Each committee (if any) shall review its draft
budget and submit any proposed amendments to the council {finance committee}
not later than the end of November each year.
4.6.
The draft budget {with any committee proposals
and [three-year]} forecast, including any recommendations for the use or
accumulation of reserves, shall be considered by the council.
4.7.
Having considered the proposed budget and
[three-year] forecast, the council shall determine its council tax requirement
by setting a budget. The council shall
set a precept for this amount no later than the end of January(depending
on SHDC requirements) for the ensuing financial year.
4.8.
Any member with council tax unpaid for more
than two months is prohibited from voting on the budget or precept by Section
106 of the Local Government Finance Act 1992 and must disclose at the start of
the meeting that Section 106 applies to them.
4.9.
The RFO shall issue the precept to the
billing authority no later than the end of February and supply each member
with a copy of the agreed annual budget.
4.10.
The
agreed budget provides a basis for monitoring progress during the year by
comparing actual spending and income against what was planned.
4.11.
Any
addition to, or withdrawal from, any earmarked reserve shall be agreed by the council.
5.1.
Members
and officers are responsible for obtaining value for money at
all times. Any
officer procuring goods, services or works should ensure, as far as
practicable, that the best available terms are obtained, usually by obtaining
prices from several suppliers.
5.2.
The
RFO should verify the lawful nature of any proposed purchase before it is made
and in the case of new or infrequent purchases, should ensure that the legal
power being used is reported to the meeting at which the order is authorised and also recorded in the minutes.
5.3.
Every
contract shall comply with these the council’s Standing Orders and these Financial
Regulations and no exceptions shall be made, except in
an emergency.
5.4.
For
a contract for the supply of goods, services or works where
the estimated value will exceed the thresholds set by Parliament, the full
requirements of The Public Contracts Regulations 2015 or any superseding
legislation (“the Legislation”), must be followed in respect of the tendering,
award and notification of that contract.
5.5.
Where
the estimated value is below the Government threshold, the council shall (with the exception of items listed in paragraph 6.12) obtain
prices as follows:
5.6.
For
contracts estimated to exceed [£60,000] including VAT, the Clerk shall {seek formal
tenders from at least [three] suppliers agreed by [the council]} OR {advertise
an open invitation for tenders in compliance with any relevant provisions of the
Legislation}. Tenders shall be invited in accordance with Appendix 1.
5.7.
For
contracts estimated to be over £30,000 including VAT, the council must comply
with any requirements of the Legislation[1]
regarding the advertising of contract opportunities and the publication of
notices about the award of contracts.
5.8.
For
contracts greater than [£5,000] excluding VAT the Clerk [or RFO] shall seek at
least [2] fixed-price quotes;
5.9.
where
the value is between [£500] and [£5,000] excluding VAT, the Clerk shall try to
obtain 2 estimates {which might include evidence of online prices, or recent
prices from regular suppliers.}
5.10.
For
smaller purchases, [the clerk] shall seek to achieve value for money.
5.11.
Contracts
must not be split into smaller lots to avoid compliance with these rules.
5.12.
The requirement to obtain competitive prices
in these regulations need not apply to contracts that relate to items (i) to (iv) below:
i.
specialist
services, such as legal professionals acting in disputes;
ii.
repairs
to, or parts for, existing machinery or equipment;
iii.
works,
goods or services that constitute an extension of an existing contract;
iv.
goods
or services that are only available from one supplier or are sold at a fixed
price.
5.13.
When
applications are made to waive this financial regulation to enable a price to
be negotiated without competition, the reason should be set out in a
recommendation to the council. Avoidance of competition is not a valid reason.
5.14.
The
council shall not be obliged to accept the lowest or any tender, quote or
estimate.
5.15.
Individual
purchases within an agreed budget for that type of expenditure may be
authorised by:
·
the
Clerk, under delegated authority, for any items below £500 excluding VAT.
·
the
Clerk, in consultation with the Chair of the Council, for any items below £3,000
excluding VAT.
·
{a
duly delegated committee of the council for all items of expenditure within
their delegated budgets for items under [£5,000] excluding VAT}
·
{in
respect of grants, a duly authorised committee within any limits set by council
and in accordance with any policy statement agreed by the council.}
·
the
council for all items over £5,000;
Such
authorisation must be supported by a minute (in the case of council or
committee decisions) or other auditable evidence trail.
5.16.
No
individual member, or informal group of members may issue an official order
unless instructed to do so in advance by a resolution of the council or make
any contract on behalf of the council.
5.17.
No
expenditure may be authorised that will exceed the budget for that type of
expenditure other than by resolution of the council {or a duly delegated
committee acting within its Terms of Reference} except in an emergency.
5.18.
In
cases of serious risk to the delivery of council services or to public safety
on council premises, the clerk may authorise expenditure of up to £2,000
excluding VAT on repair, replacement or other work that in their judgement is
necessary, whether or not there is any budget for such
expenditure. The Clerk shall report such action to the Chair as soon as
possible and to the council as soon as practicable thereafter.
5.19.
No
expenditure shall be authorised, no contract entered into
or tender accepted in relation to any major project, unless the council is
satisfied that the necessary funds are available and that where a loan is
required, Government borrowing approval has been obtained first.
5.20.
An
official order or letter or email shall be issued for all work, goods and
services above £500 excluding VAT unless a formal contract is to be prepared or
an official order would be inappropriate. Copies of orders shall be retained,
along with evidence of receipt of goods.
5.21.
Any
ordering system can be misused and access to them shall be controlled by [he
RFO.
6.1.
The
council's banking arrangements, including the bank mandate, shall be made by
the RFO and authorised by the council; banking arrangements shall not be
delegated to a committee. The council has resolved to bank with Unity Trust
Bank. The arrangements shall be reviewed
annually for security and efficiency.
6.2.
The
council must have safe and efficient arrangements for making payments, to
safeguard against the possibility of fraud or error. Wherever possible, more than one person
should be involved in any payment, for example by dual online authorisation or
dual cheque signing. Even
where a purchase has been authorised, the payment must also be authorised and only authorised payments shall be approved or
signed to allow the funds to leave the council’s bank.
6.3.
All
invoices for payment should be examined for arithmetical accuracy, analysed to
the appropriate expenditure heading and verified to confirm that the work,
goods or services were received, checked and represent expenditure previously
authorised by the council before being certified by the RFO.
6.4.
Personal
payments (including salaries, wages, expenses and any payment made in relation
to the termination of employment) may be summarised to avoid disclosing any
personal information.
6.5.
All
payments shall be made by online banking/cheque, in accordance with a
resolution of the council or a delegated decision by an officer, unless the
council resolves to use a different payment method.
6.6.
For
each financial year the RFO may draw up a schedule of regular payments due in
relation to a continuing contract or obligation (such as Salaries, PAYE, National
Insurance, pension contributions, rent, rates, regular maintenance contracts
and similar items), which the council may authorise in advance for the year.
6.7.
A copy
of this schedule of regular payments shall be signed by two members on each and every occasion when payment is made - to reduce the
risk of duplicate payments.}
6.8.
A
list of such payments shall be reported to the next appropriate meeting of the council
for information only.
6.9.
The
Clerk and RFO shall have delegated authority to authorise payments in the
following circumstances:
i.
{any
payments of up to £500 excluding VAT, within an agreed budget}.
ii.
payments
of up to £2,000 excluding VAT in cases of serious risk to the delivery of
council services or to public safety on council premises.
iii.
any
payment necessary to avoid a charge under the Late Payment of Commercial Debts
(Interest) Act 1998 {or to comply with contractual terms}, where the due date
for payment is before the next scheduled meeting of [the council], where the
Clerk certify that there is no dispute or other reason to delay payment,
provided that a list of such payments shall be submitted to the next
appropriate meeting of council .
iv.
Fund
transfers within the councils banking arrangements shall be authorised by two
members of the Council.
6.10.
The
RFO shall present a schedule of payments requiring authorisation, forming part
of the agenda for the meeting, together with the relevant invoices, to the council . The council shall review the schedule for
compliance and, having satisfied itself, shall authorise payment by resolution.
The authorised schedule shall be initialled immediately below the last item by
the person chairing the meeting. A detailed list of all payments shall be
disclosed within or as an attachment to the minutes of that meeting.
7.1.
Where
internet banking arrangements are made with any bank, the RFO shall be
appointed as the Service Administrator. The bank mandate agreed by the council
shall identify a number of councillors who will be
authorised to approve transactions on those accounts and a minimum of two
people will be involved in any online approval process.
7.2.
All
authorised signatories shall have access to view the council’s bank accounts
online.
7.3.
No
employee or councillor shall disclose any PIN or password, relevant to the
council or its banking, to anyone not authorised in writing by the council or a
duly delegated committee.
7.4.
The
Service Administrator shall set up all items due for payment online. A list of payments for approval, together
with copies of the relevant invoices, shall be sent by email to two authorised
signatories.
7.5.
In
the prolonged absence of the Service Administrator an authorised signatory
shall set up any payments due before the return of the Service Administrator.
7.6.
Two
councillors who are authorised signatories shall check the payment details
against the invoices before approving each payment using the online banking
system.
7.7.
Evidence
shall be retained showing which members approved the payment online.
7.8.
A
full list of all payments made in a month shall be provided to the next council
meeting .
7.9.
With
the approval of the council in each case, regular payments (such as gas,
electricity, telephone, broadband, water, National Non-Domestic Rates, refuse
collection, pension contributions and HMRC payments) may be made by variable
direct debit, provided that the instructions are [signed/approved online] by
[two authorised members]. The approval of the use of each variable direct debit
shall be reviewed by the council at least every two years.
7.10.
Payment
may be made by BACS or CHAPS by resolution of the council provided that each
payment is approved online by two authorised bank signatories, and any payments
are reported to the council at the next meeting. The approval of the use of
BACS or CHAPS shall be renewed by resolution of the council at least every two
years.
7.11.
If
thought appropriate by the council, regular payments of fixed sums may be made
by banker’s standing order, provided that the instructions are signed or approved
online by two members, and any payments are reported to council when made. The
approval of the use of a banker’s standing order shall be reviewed by the
council]at least every two years.
7.12.
Account
details for suppliers may only be changed upon written notification by the
supplier verified by two of the Clerk and a member. This is a potential area for fraud and the
individuals involved should ensure that any change is genuine. Data held should be checked with suppliers
every two years.
7.13.
Members
and officers shall ensure that any computer used for the council’s financial
business has adequate security, with anti-virus, anti-spyware and firewall
software installed and regularly updated.
7.14.
Remembered
password facilities {other than secure password stores requiring separate
identity verification} should not be used on any computer used for council
banking.
8.1.
Cheques
or orders for payment in accordance in accordance with
a resolution or delegated decision shall be signed by two members.
8.2.
A
signatory having a family or business relationship with the beneficiary of a
payment shall not, under normal circumstances, be a signatory to that payment.
8.3.
To
indicate agreement of the details on the cheque with the counterfoil and the
invoice or similar documentation, the signatories shall also initial the cheque
counterfoil and invoice.
8.4.
Cheques
or orders for payment shall not normally be presented for signature other than
at, or immediately before or after a council meeting}. Any signatures obtained
away from council meetings shall be reported to the council at the next
convenient meeting.
9.1.
Any
Debit Card issued for use will be specifically restricted to the Clerk and will
also be restricted to a single transaction maximum value of £500 unless
authorised by council or finance committee in writing before any order is
placed.
9.2.
A
pre-paid debit card may be issued to employees with varying limits. These
limits will be set by the council. Transactions and purchases made will be
reported to the council and authority for topping-up shall be at the discretion
of [he council]
9.3.
Any
corporate credit card or trade card account opened by the council will be
specifically restricted to use by the Clerk and any balance shall be paid in
full each month.
9.4.
Personal
credit or debit cards of members or staff shall not be used except for expenses
of up to £250 including VAT, incurred in accordance with council policy.
10.1. The council will not maintain any form
of cash float. All cash received must be banked intact. Any payments made in
cash by the Clerk (for example for postage or minor stationery items) shall be
refunded on a regular basis, at least quarterly
11.1. As an
employer, the council must make arrangements to comply
with the statutory requirements of PAYE legislation.
11.2. Councillors allowances (where paid) are also liable to
deduction of tax under PAYE rules and must be taxed correctly before payment.
11.3. Salary
rates shall be agreed by the council, or a duly delegated committee. No changes
shall be made to any employee’s gross pay, emoluments, or terms and conditions
of employment without the prior consent of the council .
11.4. Payment
of salaries shall be made, after deduction of tax, national insurance, pension
contributions and any similar statutory or discretionary deductions, on the
dates stipulated in employment contracts.
11.5. Deductions
from salary shall be paid to the relevant bodies within the required
timescales, provided that each payment is reported, as set out in these
regulations above.
11.6.
Each
payment to employees of net salary and to the appropriate creditor of the
statutory and discretionary deductions shall be recorded in a payroll control
account or other separate confidential record, with the total of such payments
each calendar month reported in the cashbook.
Payroll reports will be reviewed by Council to ensure that the correct
payments have been made.
11.7.
Any
termination payments shall be supported by a report to the council, setting out
a clear business case. Termination payments shall only be authorised by the
full council.
11.8.
Before
employing interim staff, the council must consider a full business case.
12.1.
Any
application for Government approval to borrow money and subsequent arrangements
for a loan must be authorised by the full council and recorded in the minutes. All
borrowing shall be in the name of the council, after obtaining any necessary
approval.
12.2.
Any
financial arrangement which does not require formal borrowing approval from the
Secretary of State (such as Hire Purchase, Leasing of tangible assets or loans
to be repaid within the financial year) must be authorised by the full council,
following a written report on the value for money of the proposed transaction.
12.3.
The
council shall consider the requirement for an Investment Strategy and Policy in
accordance with Statutory Guidance on Local Government Investments, which must
written be in accordance with relevant regulations, proper practices and
guidance. Any Strategy and Policy shall be reviewed by the council at least
annually.
12.4.
All
investment of money under the control of the council shall be in the name of
the council.
12.5.
All
investment certificates and other documents relating thereto shall be retained
in the custody of the RFO.
12.6.
Payments
in respect of short term or long-term investments, including transfers between
bank accounts held in the same bank, shall be made in accordance with these regulations.
13.1.
The
collection of all sums due to the council shall be the responsibility of and
under the supervision of the RFO.
13.2.
The
council will review all fees and charges for work done, services provided, or
goods sold at least annually as part of the budget-setting process, following a
report the
Clerk. shall be responsible for the collection of all amounts due to the
council.
13.3.
Any
sums found to be irrecoverable and any bad debts shall
be reported to the council by the RFO and shall be written off in the year. The
council’s approval shall be shown in the accounting records.
13.4.
All
sums received on behalf of the council shall be deposited intact with the
council's bankers, with such frequency as the RFO considers necessary. The origin of each receipt shall clearly be recorded
on the paying-in slip or other record.
13.5.
Personal
cheques shall not be cashed out of money held on behalf of the council.
13.6.
The
RFO shall ensure that VAT is correctly recorded in the council’s accounting
software and that any VAT Return required is submitted at least annually at the
end of the financial year.
14.1.
Where
contracts provide for payment by instalments the RFO shall maintain a record of
all such payments, which shall be made within the time specified in the
contract based on signed certificates from the architect or other consultant engaged
to supervise the works.
14.2.
Any
variation of, addition to or omission from a contract
must be authorised by the Clerk to the contractor in writing, with the council
being informed where the final cost is likely to exceed the contract sum by 5% or
more, or likely to exceed the budget available.
15.1.
The
Clerk shall be responsible for the care and custody of stores and equipment
15.2.
Delivery
notes shall be obtained in respect of all goods received into store or otherwise
delivered and goods must be checked as to order and quality at the time
delivery is made.
15.3.
Stocks
shall be kept at the minimum levels consistent with operational requirements.
15.4.
The
RFO shall be responsible for periodic checks of stocks and stores, at least
annually.
16.1.
The
Clerk shall make arrangements for the safe custody of
all title deeds and Land Registry Certificates of properties held by the
council.
16.2.
The
RFO shall ensure that an appropriate and accurate Register of Assets and
Investments is kept up to date, with a record of all properties held by the
council, their location, extent, plan, reference, purchase details, nature of
the interest, tenancies granted, rents payable and purpose for which held, in
accordance with Accounts and Audit Regulations.
16.3.
The
continued existence of tangible assets shown in the Register shall be verified
at least annually, possibly in conjunction with a health and safety inspection
of assets.
16.4.
No
interest in land shall be purchased or otherwise acquired, sold, leased or
otherwise disposed of without the authority of the council, together with any
other consents required by law. In each
case a written report shall be provided to council
in respect of valuation and surveyed condition of the property (including
matters such as planning permissions and covenants) together with a proper
business case (including an adequate level of consultation with the electorate
where required by law).
No
tangible moveable property shall be purchased or otherwise acquired, sold,
leased or otherwise disposed of, without the authority of the council I
17.1.
The
RFO shall keep a record of all insurances effected by the council and the
property and risks covered, reviewing these annually before the renewal date in
conjunction with the council’s review of risk management.
17.2.
The
Clerk shall give prompt notification to [the RFO] of all new risks, properties
or vehicles which require to be insured and of any alterations affecting
existing insurances.
17.3.
The
RFO shall be notified of any loss, liability, damage or event likely to lead to
a claim, and shall report these to the council at the next available meeting. The
RFO shall negotiate all claims on the council's insurers.
17.4.
All
appropriate members and employees of the council shall be included in a
suitable form of security or fidelity guarantee insurance which shall cover the
maximum risk exposure as determined annually by the council.
18.1.
Where
the council is sole managing trustee of a charitable body the Clerk and RFO
shall ensure that separate accounts are kept of the funds held on charitable
trusts and separate financial reports made in such form as shall be
appropriate, in accordance with Charity Law and legislation, or as determined
by the Charity Commission. The Clerk and RFO shall arrange for any audit or
independent examination as may be required by Charity Law or any Governing
Document.]
19.1.
The
council shall review these Financial Regulations annually. The Clerk shall monitor changes in legislation
or proper practices and advise the council of any need to amend these Financial
Regulations.
19.2. The council may, by resolution duly
notified prior to the relevant meeting of council, suspend any part of these
Financial Regulations, provided that reasons for the
suspension are recorded and that an assessment of the risks arising has been
presented to all members. Suspension does not disapply any legislation or
permit the council to act unlawfully.
19.3. The council may temporarily amend these Financial
Regulations by a duly notified resolution, to cope with periods of absence,
local government reorganisation, national restrictions or other exceptional
circumstances.
1) Any invitation to tender shall state the
general nature of the intended contract and the Clerk shall obtain the
necessary technical assistance to prepare a specification in appropriate cases.
2) The invitation shall in addition state
that tenders must be addressed to the Clerk in the ordinary course of post,
unless an electronic tendering process has been agreed by the council.
3) Where a postal process is used, each
tendering firm shall be supplied with a specifically marked envelope in which
the tender is to be sealed and remain sealed until the prescribed date for
opening tenders for that contract. All
sealed tenders shall be opened at the same time on the prescribed date by the
Clerk in the presence of at least one member of council.
4) Where an electronic tendering process is
used, the council shall use a specific email address that will be monitored to
ensure that nobody accesses any tender before the expiry of the deadline for
submission.
5) Any invitation to tender issued under
this regulation shall be subject to Standing Order [insert reference of the
council’s relevant standing order] and shall refer to the terms of the Bribery
Act 2010.
6)
Where
the council, or duly delegated committee, does not accept any tender, quote or
estimate, the work is not allocated and the council requires further pricing,
no person shall be permitted to submit a later tender, estimate or quote who
was present when the original decision-making process was being undertaken.
Version
number |
Date
Approved |
Amendments
made |
Next
Review Date |
V1 |
7
January 2021 |
|
|
V2 |
6
February 2023 |
Yes |
February
2024 |
V3 |
1
July 2024 |
Yes new regulations |
July
2025 |
|
|
|
|
[1] The Regulations require
councils to use the Contracts Finder website if they advertise contract
opportunities and also to publicise the award of contracts over £30,000
including VAT, regardless of whether they were advertised.