Agenda item

11.1

This report is to present the proposed changes to the Council’s Constitution: Part 4 – Financial Procedure Rules (Financial Regulations) arising from an annual refresh of the Regulations following consultation with Finance colleagues.

11.2

RESOLVED UNANIMOUSLY: That the Finance Committee:-

1.     endorses the proposed changes to the Constitution: Part 4 – Financial Procedure Rules (Financial Regulations), as outlined in the report and Appendix 1 and shown in full at Appendix 2; and

2.     notes that the revised Financial Procedure Rules (Financial Regulations), together with other proposed changes to the Constitution, will be presented to Full Council for approval at the Annual Meeting on 15th May 2024.

11.3

Reasons for Decision

11.3.1

The reasons for the recommended changes are set out in the Summary of Changes document at Appendix 1.

11.4

Alternatives Considered and Rejected

11.4.1

Do nothing – this option was rejected because it would result in the Financial Procedure Rules (Financial Regulations), and therefore the Constitution being out of date with respect to current practices, policies and procedures.

11.1

The Director of Finance and Commercial Services presented a report setting out the proposed changes to the Council’s Constitution: Part 4 – Financial Procedure Rules (Financial Regulations) arising from an annual refresh of the Regulations following consultation with Finance colleagues.

11.2

RESOLVED UNANIMOUSLY: That the Finance Committee:-

1.     endorses the proposed changes to the Constitution: Part 4 – Financial Procedure Rules (Financial Regulations), as outlined in the report and Appendix 1 and shown in full at Appendix 2; and

2.     notes that the revised Financial Procedure Rules (Financial Regulations), together with other proposed changes to the Constitution, will be presented to Full Council for approval at the Annual Meeting on 15th May 2024.

11.3

Reasons for Decision

11.3.1

The reasons for the recommended changes are set out in the Summary of Changes document at Appendix 1.

11.4

Alternatives Considered and Rejected

11.4.1

Do nothing – this option was rejected because it would result in the Financial Procedure Rules (Financial Regulations), and therefore the Constitution being out of date with respect to current practices, policies and procedures.