Contact: Paul Carey-Kent, Deputy Treasurer 01962 847525

1. Introduction

1.1 Financial Regulations are the regulatory framework within which the financial affairs of the Authority operate and apply to all staff and members in carrying out their duties. They clarify responsibilities seek to ensure compliance with statutory powers and duties and establish a reference to best professional practice and processes.

2. Changes

2.1 The current financial regulations have remained broadly unchanged since the Authority was established in 1997. They have been completely re-drafted updating areas such as treasury management and taxation. They will be reviewed on an annual basis once adopted.

2.2 The proposed regulations are attached as the appendix.

3. European Convention on Human Rights and the Human Rights Act 1998

3.1 The proposals within this report are considered compatible with the provisions of the European Convention on Human Rights, the Human Rights Act 1998 and the Race Relations (amendment) Act 2000.

Recommendation

1. That the Committee recommends to the Authority the adoption of the revised Financial Regulations and the deletion of the existing Financial Regulations with effect from 1 April 2005.

Section 100 D - Local Government Act 1972 - background papers

The following documents disclose facts or matters on which this report, or an important part of it, is based and has been relied upon to a material extent in the preparation of this report.

NB the list excludes:

Published works.

Documents which disclose exempt or confidential information as defined in the Act.

TITLE FILE

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