1.1 To conduct its business efficiently, a local council needs to ensure that it has sound financial management policies in place and that they are strictly adhered to. This demonstrates to the public that proper safeguards and controls exist in relation to managing public money and assets. These Financial Rules including appendices provide the governance framework for managing the Council’s financial affairs.
1.2 There are five areas covered by Financial Rules:
- Financial management and control.
- Financial planning.
- Risk management and control of resources.
- Systems and procedures.
- External arrangements.
1.3 Financial Rules link with other internal regulatory documents forming part of the Council’s Constitution. Detailed financial procedures and processes are also available on the Intranet and are an integral part of ensuring a high standard of financial management and control is maintained.