Issue - meetings

Financial Regulations - Annual evolution for the financial year 2022/23

Meeting: 17/03/2022 - Audit and Governance Committee (Item 92)

92 Financial Regulations - Annual evolution for the financial year 2022/23 pdf icon PDF 239 KB

Evolutionary changes to the Council’s Financial Regulations are summarised in this report and shown in red text throughout the document at Appendix A. 

The use of gender specific language has been removed.

Part G, Procurement and Contract Procedures, has been subject to changes to the format, numbering and ordering to more naturally follow the order of activity associated in a procurement process.  Whilst this appears as red text, indicating a change from the previous year, in practice the actual regulation requirements have not significantly changed.

In line with government requirements, all contract value estimations, when applying to thresholds, are VAT inclusive.

The heading ‘Pooled Budgets’ has been added to the External Arrangements, Part H so there is no ambiguity that Pooled Budgets are a form of external arrangement.

A new BCP Debt Management policy, at Appendix B, brings together legacy policies and details the Council’s corporate approach to billing, collection and recovery of monies due to the Council. Director Strategy Group approved the policy on 22 February 2022 and it is now being brought to Audit and Governance Committee as part of the annual evolution of Financial Regulations as it contains key supplementary detail.

Additional documents:

Minutes:

The Head of Audit and Management Assurance presented a report, a copy of which had been circulated to each Member and a copy of which appears as Appendix 'B' to these Minutes in the Minute Book.

The report summarised evolutionary changes to the Council’s Financial Regulations with proposed changes shown in red text throughout the document which was set out at Appendix A to the report.  Members were reminded that an ‘annual evolution’ approach ensured that the Council’s Financial Regulations remained up-to-date and relevant within a fast changing internal and external environment

The primary changes were described including removal of the use of gender specific language and changes to Part G, Procurement and Contract Procedures. It was explained that the changes to Part G were to the format, numbering and ordering to more naturally follow the order of activity associated with the procurement process.  Whilst these appeared as red text, indicating a change from the previous year, in practice the actual regulation requirements had not significantly changed.

Additionally, and in line with government requirements, all contract value estimations, when applying to thresholds, were now shown as VAT inclusive. The heading ‘Pooled Budgets’ had also been added to the External Arrangements, Part H, to make it clear that ‘Pooled Budgets’ were a form of external arrangement.

A new BCP Debt Management policy, set out at Appendix B to the report, was presented to the Committee and would bring together legacy policies and detail the Council’s corporate approach to billing, collection and recovery of monies due to the Council. It was reported that the Director Strategy Group had approved the new policy on 22 February 2022 and, as it contained key supplementary detail, it was being brought to Audit and Governance Committee for the Committee to note as part of the annual evolution of Financial Regulations.

RECOMMENDED TO COUNCIL

That the evolutionary annual changes to the BCP Council Financial Regulations as shown in Appendix A of the report to the Audit and Governance Committee be approved and adopted.

Voting: Unanimous

RESOLVED that the Audit and Governance Committee notes the new BCP Debt Management Policy as shown in Appendix B of the report to the Committee.

Voting: Unanimous