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Issue - meetings

Finance Procedure Rules

 

 

Meeting: 19/03/2026 - Audit and Governance Committee (Item 114)

114 Finance and Procedure Rules pdf icon PDF 197 KB

Purpose:

To present Members with the revised Financial Procedure Rules March 2026

 

Recommendations:

That the Audit and Governance Committee resolve to:

1.    Approve the Financial Procedure Rules March 2026.

 

Additional documents:

Minutes:

Madhu Richards, Director of Finance, presented the item, the purpose of which was to present members with the revised Financial Procedure Rules (FPR) March 2026.

 

In the presentation the Director of Finance made the following points:

 

  • The FPR had last been reviewed in 2015. Since that point the Publica transition from and then back to the Council had taken place.
  • The review had taken place to ensure that the FPR were fit for purpose prior to Local Government Reorganisation (LGR) vesting day on 1 April 2028.
  • The first draft of the FPR had been taken to the Constitution Working Group in November 2025. The Constitution Working Group had agreed that the final FPR should be approved by the Audit and Governance Committee.

 

In the discussion the following points were raised:

 

  • The FPR that had been presented were extremely clear and all members should be encouraged to read them.
  • Members questioned how leadership ensured that all officers in their departments were aware of their responsibilities in the context of the FPR. Officers advised that the FPR had been shared at Management Team level and were cascaded down to officers. It was noted that there was also an induction process for new employees. In cases where the new employees had budget responsibilities this induction programme included aspects of finance.
  • The level of virements that would require Full Council approval, currently listed at C2.2 as £150,000, was queried. Officers noted that there were lower figures that required different clearances, such as a figure of £5,000 that required Executive clearance.
  • The process and bandings around ex-gratia payments were discussed and noted to be consistent with those for virements. Officers reiterated that such payments would be in the Statement of Account and therefore be in the public domain which ensured transparency.
  • Members queried to what degree the revised FPR had changed since the last update in 2015. The Director of Finance advised that the new version was intrinsically similar to the previous iteration. Changes had reflected the structural changes following Publica transitions and changes to the scheme of delegation.

 

Councillor Carl Rylett, Chair of the Audit and Governance Committee, proposed the recommendations of the report. This proposal was seconded by Councillor Joy Aitman.

 

The Audit and Governance Committee resolved to:

1.    Approve the Financial Procedure Rules March 2026.

 

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