Issue - meetings

Cabinet Agreed:

To approve the updated Financial Regulations 2021.

NHowcutt introduced the report and welcomed questions.

Cllr Birnie asked, with regard pg.46 and authorisation levels; what is there to stop a capital acquisition being divided into smaller chunks so it exceeds the level of authorisation and only becomes evident after the fact?

NHowcutt responded that there are financial controls in place for all acquisitions.

Cllr Williams commented his presumption that these sign offs and authorisations would have to go through due processes before they were able to complete sign off?

Cllr Birnie clarified his question, asking; would it be possible for this to happen inadvertently rather than a deliberate act?

NHowcutt gave reassurance that the same controls that are in place now will be in place under these new regulations.  Stating that in relation to Council acquisitions, you have to have approved budget and financial control in place first, just having the want and/or will to authorise something is not as simple as just being able to do so.

Cllr Birnie referred to pg.83, and asked; what is Business World Unit approval?

NHowcutt responded to advise this is the name of the finance software system where all our sign offs are carried out.

Recommendations Agreed.

To approve the updated Financial Regulations 2021.