Issue - meetings

The Financial Regulations and Budget Management Scheme were previously updated in 2015. These have now been reviewed and updated, and aligned with the new management structure that was put in place for April 2018.

The Council considered a report presenting the updated Financial Regulations and Budget Management Scheme.

On a motion from Councillor Charles Gerrish, seconded by Councillor Paul May, it was

RESOLVED

1.  To approve the updated Financial Regulations and Budget Management Scheme attached as Appendix A to the report;

2.  To agree that the Key Decision financial threshold be set at £500k;

3.  To give delegated authority be given to the S151 Officer in consultation with the Chief Auditor to make any updates or changes to the regulations of a non-material nature; and

4.  That the Corporate Audit Committee overview any further changes to the regulations in line with their terms of reference.

[Notes;

1.  During debate, an amendment was moved by Councillor Robin Moss, and seconded by Councillor Joe Rayment, to postpone the change to the Key Decision financial threshold change until proper scrutiny could take place.  This was lost with 7 Councillors voting in favour, 47 Councillors voting against and 1 Councillor abstaining.]

2.  The above successful resolution was carried with 48 Councillors voting in favour, 2 Councillors voting against and 2 Councillors abstaining.]