Decision details

Council RESOLVED that the revised Financial Regulations be approved for incorporation into Part 4 of the Constitution, subject to the following amendments and minor typographical corrections:

(a)               References to “Chief Accountant” to read “Head of Accountancy”;

(b)               The penultimate sentence of paragraph 3.6 read: “No body of the Council nor any officer will commit items of expenditure not provided in their estimates unless, in cases of extreme importance and after opportunities for virement have been exhausted, specifically approved by the Executive up to level 3 and within approved policy or specifically approved by Council if outside approved policy and / or above level 3”; and

(c)               Amendments to section 6, Operation of Bank Accounts, to include specific reference to BACS transfers.