Financial-regulations 2026

HELLESDON PARISH COUNCIL

FINANCIAL REGULATIONS

Financial Regulation 2026
Adopted by Hellesdon Parish
Council May 2026.
Review date May 2027

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HELLESDON PARISH COUNCIL - FINANCIAL REGULATIONS

Contents
1. General ..........................................................................................................................4
2. Risk management and internal control ............................................................................5
3. Accounts and audit .........................................................................................................6
4. Budget and precept ........................................................................................................7
5. Procurement ...................................................................................................................8
6. Banking and payments ................................................................................................. 10
7. Electronic payments ..................................................................................................... 11
8. Cheque payments ........................................................................................................ 12
9. Payment cards.............................................................................................................. 12
10. Petty Cash .................................................................................................................... 13
11. Payment of salaries and allowances ............................................................................. 13
12. Loans and investments ................................................................................................. 14
13. Income ......................................................................................................................... 14
14. Payments under contracts for building or other construction works ............................... 15
15. Stores and equipment ................................................................................................... 15
16. Assets, properties and estates ...................................................................................... 15
17. Insurance...................................................................................................................... 16
18. Suspension and revision of Financial Regulations ........................................................ 16
Appendix 1 - Tender process................................................................................................ 17

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1. General
1.1. These Financial Regulations govern the financial management of the council and
may only be amended or varied by resolution of the council. They are one of the
council’s governing documents and shall be observed in conjunction with the
council’s Standing Orders.
1.2. Councillors are expected to follow these regulations and not to entice employees to
breach them. Failure to follow these regulations brings the office of councillor into
disrepute.
1.3. Wilful breach of these regulations by an employee may result in disciplinary
proceedings.
1.4. In these Financial Regulations:
• ‘Accounts and Audit Regulations’ means the regulations issued under Sections
32, 43(2) and 46 of the Local Audit and Accountability Act 2014, or any
superseding legislation, and then in force, unless otherwise specified.
• “Approve” refers to an online action, allowing an electronic transaction to take
place.
• “Authorise” refers to a decision by the council, or a committee or an officer, to
allow something to happen.
• ‘Proper practices’ means those set out in The Practitioners’ Guide
• Practitioners’ Guide refers to the guide issued by the Smaller Authorities
Proper Practices Panel (SAPPP)and published by NALC in England
• ‘Must’ and bold text refer to a statutory obligation the council cannot change.
• ‘Shall’ refers to a non-statutory instruction by the council to its members and
staff.

1.5. The Responsible Financial Officer (RFO) holds a statutory office, appointed by the
council. The Clerk has been appointed as RFO and these regulations apply
accordingly. The RFO;
• acts under the policy direction of the council;
• administers the council's financial affairs in accordance with all Acts,
Regulations and proper practices;
• determines on behalf of the council its accounting records and control systems;
• ensures the accounting control systems are observed;
• ensures the accounting records are kept up to date;
• seeks economy, efficiency and effectiveness in the use of council resources;
and
• produces financial management information as required by the council.
1.6. The council must not delegate any decision regarding:

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 • setting the final budget or the precept (council tax requirement);
• the outcome of a review of the effectiveness of its internal controls
• approving accounting statements;
• approving an annual governance statement;
• borrowing;
• declaring eligibility for the General Power of Competence; and
• addressing recommendations from the internal or external auditors
1.7. In addition, the council shall:
• determine and regularly review the bank mandate for all council bank accounts;
2. Risk management and internal control
2.1. The council must ensure that it has a sound system of internal control, which
delivers effective financial, operational and risk management.
2.2. The Clerk shall prepare, for approval by the council or relevant committee, a risk
management policy covering all activities of the council. This policy and
consequential risk management arrangements shall be reviewed by the council at
least annually.
2.3. When considering any new activity, the Clerk shall prepare a draft risk assessment
including risk management proposals for consideration by the council or relevant
committee.
2.4. At least once a year, the council must review the effectiveness of its system
of internal control, before approving the Annual Governance Statement.
2.5. The accounting control systems determined by the RFO must include
measures to:
• ensure that risk is appropriately managed;
• ensure the prompt, accurate recording of financial transactions;
• prevent and detect inaccuracy or fraud; and
• allow the reconstitution of any lost records;
• identify the duties of officers dealing with transactions and
• ensure division of responsibilities.
2.6. At least once in each quarter, and at each financial year end, a member other than
the Chair or a cheque signatory shall be appointed to verify bank reconciliations (for
all accounts) produced by the RFO. The member shall sign and date the
reconciliations and the original bank statements (or similar document) as evidence
of this. This activity, including any exceptions, shall be reported to and noted by the
council.

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 2.7. Regular back-up copies shall be made of the records on any council computer and
stored either online or in a separate location from the computer. The council shall
put measures in place to ensure that the ability to access any council computer is
not lost if an employee leaves or is incapacitated for any reason.

3. Accounts and audit

3.1. All accounting procedures and financial records of the council shall be determined
by the RFO in accordance with the Accounts and Audit Regulations.
3.2. The accounting records determined by the RFO must be sufficient to explain
the council’s transactions and to disclose its financial position with
reasonably accuracy at any time. In particular, they must contain:
• day-to-day entries of all sums of money received and expended by the
council and the matters to which they relate;
• a record of the assets and liabilities of the council;
3.3. The accounting records shall be designed to facilitate the efficient preparation of the
accounting statements in the Annual Governance and Accountability Return.
3.4. The RFO shall complete and certify the annual Accounting Statements of the
council contained in the Annual Governance and Accountability Return in
accordance with proper practices, as soon as practicable after the end of the
financial year. Having certified the Accounting Statements, the RFO shall submit
them (with any related documents) to the council, within the timescales required by
the Accounts and Audit Regulations.
3.5. The council must ensure that there is an adequate and effective system of
internal audit of its accounting records and internal control system in
accordance with proper practices.
3.6. Any officer or member of the council must make available such documents
and records as the internal or external auditor consider necessary for the
purpose of the audit and shall, as directed by the council, supply the RFO, internal
auditor, or external auditor with such information and explanation as the council
considers necessary.
3.7. The internal auditor shall be appointed by the council and shall carry out their work
to evaluate the effectiveness of the council’s risk management, control and
governance processes in accordance with proper practices specified in the
Practitioners’ Guide.
3.8. The council shall ensure that the internal auditor:
• is competent and independent of the financial operations of the council;
• reports to council in writing, or in person, on a regular basis with a minimum of
one written report during each financial year;
• can demonstrate competence, objectivity and independence, free from any
actual or perceived conflicts of interest, including those arising from family
relationships; and

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 • has no involvement in the management or control of the council
3.9. Internal or external auditors may not under any circumstances:
• perform any operational duties for the council;
• initiate or approve accounting transactions;
• provide financial, legal or other advice including in relation to any future
transactions; or
• direct the activities of any council employee, except to the extent that such
employees have been appropriately assigned to assist the internal auditor.
3.10. For the avoidance of doubt, in relation to internal audit the terms ‘independent’ and
‘independence’ shall have the same meaning as described in The Practitioners
Guide.
3.11. The RFO shall make arrangements for the exercise of electors’ rights in relation to
the accounts, including the opportunity to inspect the accounts, books, and
vouchers and display or publish any notices and documents required by the Local
Audit and Accountability Act 2014, or any superseding legislation, and the Accounts
and Audit Regulations.
3.12. The RFO shall, without undue delay, bring to the attention of all councillors any
correspondence or report from internal or external auditors.

4. Budget and precept

4.1. Before setting a precept, the council must calculate its council tax
requirement for each financial year by preparing and approving a budget, in
accordance with The Local Government Finance Act 1992 or succeeding
legislation.
4.2. Budgets for salaries and wages, including employer contributions shall be reviewed
by Staffing Committee at least annually for the following financial year and the final
version shall be evidenced by a hard copy schedule signed by the Clerk and the
Chair of the Staffing committee. The RFO will inform committees of any salary
implications before they consider their draft budgets.
4.3. No later than November each year, the RFO shall prepare a draft budget with
detailed estimates of all income and expenditure for the following financial year
forecast report on predicted lifespan of assets for the next three financial years
4.4. Unspent budgets for completed projects shall not be carried forward to a
subsequent year. Unspent funds for partially completed projects may only be
carried forward by placing them in an earmarked reserve with the formal approval of
the full council.
4.5. Each committee shall review its draft budget and submit any proposed amendments
to the PP&R committee not later than the end of November each year.
4.6. The draft budget with any committee proposals and forecast reports, including any
recommendations for the use or accumulation of reserves, shall be considered by
the PP&R committee and a recommendation made to the council.

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 4.7. Having considered the proposed budget and forecast reports, the council shall
determine its council tax requirement by setting a budget. The council shall set a
precept for this amount no later than the end of February for the ensuing financial
year.
4.8. Any member with council tax unpaid for more than two months is prohibited
from voting on the budget or precept by Section 106 of the Local Government
Finance Act 1992 and must and must disclose at the start of the meeting that
Section 106 applies to them.
4.9. The RFO shall issue the precept to the billing authority no later than the end of
February and supply each member with a copy of the agreed annual budget.
4.10. The agreed budget provides a basis for monitoring progress during the year by
comparing actual spending and income against what was planned.
4.11. Any addition to, or withdrawal from, any earmarked reserve shall be agreed by the
council.

5. Procurement

5.1. Members and officers are responsible for obtaining value for money at all
times. Any officer procuring goods, services or works should ensure, as far as
practicable, that the best available terms are obtained, usually by obtaining prices
from several suppliers.
5.2. The RFO should verify the lawful nature of any proposed purchase before it is made
and in the case of new or infrequent purchases. The General Power of
Competence is always the power of first resort
5.3. Every contract shall comply with these the council’s Standing Orders and these
Financial Regulations and no exceptions shall be made, except in an emergency.
5.4. For a contract for the supply of goods, services or works where the estimated
value will exceed the thresholds set by Parliament, the full requirements of
The Procurement Act 2023 and The Procurement Regulations 2024 or any
superseding legislation (“the Legislation”), must be followed in respect of the
tendering, award and notification of that contract.
5.5. Where the estimated value is below the Government threshold, the council shall
(with the exception of items listed in paragraph 6.12) obtain prices as follows:
5.6. For contracts estimated to exceed £25,000 excluding VAT, the Clerk shall seek
formal tenders from at least three suppliers. If three suppliers are unable to tender,
then and advertisement for an open tender should be placed. Tenders shall be
invited in accordance with Appendix 1.
5.7. For contracts estimated to be over £30,000 including VAT, the council must
comply with any requirements of the Legislation1 regarding the invitations
and notices of opportunities and the publication of notices about the award
of contracts.

1
The Regulations require councils to use the Contracts Finder website if they advertise contract opportunities and also to publicise the
award of contracts over £30,000 including VAT, regardless of whether they were advertised.

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 5.8. For contracts greater than £3,000 excluding VAT the Clerk shall seek at least 3
fixed-price quotes;
5.9. where the value is between £500 and £3,000 excluding VAT, the Clerk shall try to
obtain 3 estimates which might include evidence of online prices, or recent prices
from regular suppliers.
5.10. For smaller purchases, all officers shall seek to achieve value for money.
5.11. Contracts must not be split into smaller lots to avoid compliance with
procurement rules.
5.12. The requirement to obtain competitive prices in these regulations need not apply to
contracts that relate to items (i) to (iv) below:
i. specialist services, such as legal professionals acting in disputes;
ii. repairs to, or parts for, existing machinery or equipment;
iii. works, goods or services that constitute an extension of an existing contract;
iv. goods or services that are only available from one supplier or are sold at a
fixed price.
5.13. When applications are made to waive this financial regulation to enable a price to
be negotiated without competition, the reason should be set out in a
recommendation to the council or relevant committee. Avoidance of competition is
not a valid reason.
5.14. The council shall not be obliged to accept the lowest or any tender, quote or
estimate.
5.15. Individual purchases within an agreed budget for that type of expenditure may be
authorised by:
• the Clerk, under delegated authority, for any items below £3,000 excluding VAT.
• the Clerk, in consultation with the Chair of the Council or Chair of the appropriate
committee} for any items above £3,000 and below £5,000 excluding VAT.
• a duly delegated committee of the council for all items of expenditure within their
delegated budgets for items above £3,000 and below £5,000 excluding VAT
• in respect of grants, a duly authorised committee within any limits set by council
and in accordance with any policy statement agreed by the council.
• the full council for all items over £5,000 excluding VAT;
Such authorisation must be supported by a minute (in the case of council or
committee decisions) or other auditable evidence trail.
5.16. No individual member, or informal group of members may issue an official order or
make any contract on behalf of the council.

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 5.17. No expenditure may be authorised that will exceed the budget for that type of
expenditure other than by resolution of the council or a duly delegated committee
acting within its Terms of Reference except in an emergency.
5.18. In cases of serious risk to the delivery of council services or to public safety on
council premises, the clerk may authorise expenditure of up to £2,000 excluding
VAT on repair, replacement or other work that in their judgement is necessary,
whether or not there is any budget for such expenditure. The Clerk shall report such
action to the Chair as soon as possible and to the council as soon as practicable
thereafter.
5.19. No expenditure shall be authorised, no contract entered into or tender accepted in
relation to any major project, unless the council is satisfied that the necessary funds
are available and that where a loan is required, Government borrowing approval
has been obtained first.
5.20. An official purchase order or letter shall be issued for all work, goods and services
above £250 excluding VAT unless a formal contract is to be prepared or an official
order would be inappropriate. Copies of purchase orders shall be retained in
accordance with the councils retention policy, along with evidence of receipt of
goods.
5.21. Any ordering system can be misused and access to them shall be controlled by the
RFO.

6. Banking and payments

6.1. The council's banking arrangements, including the bank mandate, shall be made by
the RFO and authorised by the council; banking arrangements shall not be
delegated to a committee. The council has resolved to bank with Barclays Bank
and Unity Trust Bank. The arrangements shall be reviewed at least annually for
security and efficiency.
6.2. The council must have safe and efficient arrangements for making payments, to
safeguard against the possibility of fraud or error. Wherever possible, more than
one person should be involved in any payment, for example by dual online
authorisation or dual cheque signing. With dual authorisation, at least one signatory
should be a member of council Even where a purchase has been authorised, the
payment must also be authorised and only authorised payments shall be approved
or signed to allow the funds to leave the council’s bank.
6.3. All invoices for payment should be examined for arithmetical accuracy, analysed to
the appropriate expenditure heading and verified to confirm that the work, goods or
services were received, checked and represent expenditure previously authorised
by the council before being certified by the RFO. Where the certification of invoices
is done as a batch, this shall include a statement by the RFO that all invoices listed
have been ‘examined, verified and certified’ by the RFO.
6.4. Personal payments (including salaries, wages, expenses and any payment made in
relation to the termination of employment) may be summarised to avoid disclosing
any personal information.

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 6.5. All payments shall be made in accordance with a resolution of the council or a
delegated decision by an officer.
6.6. The Clerk and RFO shall have delegated authority to authorise payments in the
following circumstances:
i. any payments of up to £500 excluding VAT, within an agreed budget.
ii. payments of up to £2,000 excluding VAT in cases of serious risk to the
delivery of council services or to public safety on council premises.
iii. any payment necessary to avoid a charge under the Late Payment of
Commercial Debts (Interest) Act 1998 or to comply with contractual terms,
where the due date for payment is before the next scheduled meeting of [the
council], where the [Clerk and RFO] certify that there is no dispute or other
reason to delay payment, provided that a list of such payments shall be
submitted to the next appropriate meeting of council.
7. ( not required covered by 7.8)Electronic payments
7.1. Where internet banking arrangements are made with any bank, [the RFO] shall be
appointed as the Service Administrator. The bank mandate agreed by the council
shall identify 2 councillors who will be authorised to approve transactions on those
accounts and a minimum of two people will be involved in any online approval
process. The Clerk and Deputy Clerk will also be authorised signatories. At least
one member who is an authorised signatory should be involved in the approval
process and no signatory should be involved in approving any payment to
themselves.
7.2. All authorised signatories shall have access to view the council’s bank accounts
online.
7.3. No employee or councillor shall disclose any PIN or password, relevant to the
council or its banking, to anyone not authorised in writing by the council or a duly
delegated committee.
7.4. The Clerk or Deputy Clerk shall set up all items due for payment online. A list of
payments for approval, together with copies of the relevant invoices, shall be sent
[by email] to [two] authorised signatories.
7.5. In the prolonged absence of both the Clerk and Deputy Clerk an another
authorised signatory shall set up any payments due before the return of the Clerk
or Deputy Clerk..
7.6. Two [councillors who are] authorised signatories shall check the payment details
against the invoices before approving each payment using the online banking

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 system, at least one of these authorised signatories should be a member of the
council.
7.7. Evidence shall be retained showing which members approved the payment online
7.8. A full list of all payments made in a month shall be provided to the next council
meeting for approval.
7.9. With the approval of the council in each case, regular payments (such as gas,
electricity, telephone, broadband, water, National Non-Domestic Rates, refuse
collection, pension contributions and HMRC payments) may be made by variable
direct debit, provided that the instructions are signed/approved online by two
authorised signatories.
7.10. Payment may be made by BACS or CHAPS by resolution of the council provided
that each payment is approved online by two authorised bank signatories, one of
which being a member of the council, evidence is retained and any payments are
reported to the council at the next meeting.
7.11. If thought appropriate by the council, regular payments of fixed sums may be made
by banker’s standing order, provided that the instructions are signed or approved
online by two authorised signatories, at least one being a member of the council,
evidence of this is retained and any payments are reported to council when made.
The approval of the use of a banker’s standing order shall be reviewed by [the
council] at least every two years.
7.12. Account details for suppliers may only be changed upon written notification by the
supplier verified by the Clerk and Deputy Clerk. This is a potential area for fraud
and the individuals involved should ensure that any change is genuine.
7.13. Members and officers shall ensure that any computer used for the council’s
financial business has adequate security, with anti-virus, anti-spyware and firewall
software installed and regularly updated.
7.14. Remembered password facilities {other than secure password stores requiring
separate identity verification} should not be used on any computer used for council
banking.

8. Cheque payments

8.1. Cheques or orders for payment in accordance with a resolution or delegated
decision shall be signed by two authorised signatories, at least one being a member
of the council.
8.2. A signatory having a family or business relationship with the beneficiary of a
payment shall not, under normal circumstances, be a signatory to that payment.
8.3. To indicate agreement of the details on the cheque with the counterfoil and the
invoice or similar documentation, the signatories shall also initial the cheque
counterfoil and invoice.

9. Payment cards

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 9.1. Any Debit Card issued for use will be specifically restricted to the Clerk and the
Deputy Clerk and will also be restricted to a single transaction maximum value of
£500 unless authorised by council or finance committee in writing before any order
is placed.
9.2. A pre-paid debit card may be issued to employees with varying limits. These limits
will be set by the council. Transactions and purchases made will be reported to the
council and authority for topping-up shall be at the discretion of the council.
9.3. Any corporate credit card or trade card account opened by the council will be
specifically restricted to use by the Clerk and Deputy Clerk and any balance shall
be paid in full each month.
9.4. Personal credit or debit cards of members or staff shall not be used except for
expenses of up to [£25] including VAT, incurred in accordance with council policy.

10. Petty Cash

10.1. All cash received must be banked intact. At the end of each month, a statement of
income and expenditure should be passed to the RFO for accounting purposes.
Any amount held in excess of the Parish Council’s insurance liabilities must be
passed to the RFO for banking.
10.2. The RFO shall maintain a petty cash of up to £250 and may provide petty cash to
officers for the purpose of defraying operational and other expenses.
10.3. The café shall have a cash float of £100
10.4. The bar shall have a cash float of up to £300, which will be banked after every event
a) Vouchers for payments made from petty cash shall be kept, along with receipts to
substantiate every payment.
b) Cash income received must not be paid into the petty cash float but must be
separately banked, as provided elsewhere in these regulations.
c) Payments to maintain the petty cash float shall be shown separately on any
schedule of payments presented for approval.}

11. Payment of salaries and allowances

11.1. As an employer, the council must make arrangements to comply with the
statutory requirements of PAYE legislation.
11.2. Councillors allowances (where paid) are also liable to deduction of tax under
PAYE rules and must be taxed correctly before payment.
11.3. Salary rates shall be agreed by the council, or a duly delegated committee. No
changes shall be made to any employee’s gross pay, emoluments, or terms and
conditions of employment without the prior consent of the council or Staffing
Committee.
11.4. Payment of salaries shall be made, after deduction of tax, national insurance,
pension contributions and any similar statutory or discretionary deductions, on the
dates stipulated in employment contracts.

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 11.5. Deductions from salary shall be paid to the relevant bodies within the required
timescales, provided that each payment is reported, as set out in these regulations
above.
11.6. Each payment to employees of net salary and to the appropriate creditor of the
statutory and discretionary deductions shall be recorded in a payroll control account
or other separate confidential record, with the total of such payments each calendar
month reported in the cashbook. Payroll reports will be reviewed by the Clerk to
ensure that the correct payments have been made.
11.7. Any termination payments shall be supported by a report to the council, setting out
a clear business case. Termination payments shall only be authorised by the full
council.
11.8. Before employing interim staff, the council must consider a full business case.

12. Loans and investments

12.1. Any application for Government approval to borrow money and subsequent
arrangements for a loan must be authorised by the full council and recorded in the
minutes. All borrowing shall be in the name of the council, after obtaining any
necessary approval.
12.2. Any financial arrangement which does not require formal borrowing approval from
the Secretary of State (such as Hire Purchase, Leasing of tangible assets or loans
to be repaid within the financial year) must be authorised by the full council,
following a written report on the value for money of the proposed transaction.
12.3. The council shall consider the requirement for an Investment Strategy and Policy in
accordance with Statutory Guidance on Local Government Investments, which must
written be in accordance with relevant regulations, proper practices and guidance.
Any Strategy and Policy shall be reviewed by the council at least annually.
12.4. All investment of money under the control of the council shall be in the name of the
council.
12.5. All investment certificates and other documents relating thereto shall be retained in
the custody of the RFO.
12.6. Payments in respect of short term or long-term investments, including transfers
between bank accounts held in the same bank, shall be made in accordance with
these regulations.

13. Income

13.1. The collection of all sums due to the council shall be the responsibility of and under
the supervision of the RFO.
13.2. The council will review all fees and charges for work done, services provided, or
goods sold at least annually as part of the budget-setting process, following a report
of the Clerk. The RFO shall be responsible for the collection of all amounts due to
the council.

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 13.3. Any sums found to be irrecoverable and any bad debts shall be reported to the
council by the RFO and shall be written off in the year. The council’s approval shall
be shown in the accounting records.
13.4. All sums received on behalf of the council shall be deposited intact with the
council's bankers, with such frequency as the RFO considers necessary. The origin
of each receipt shall clearly be recorded on the paying-in slip or other record.
13.5. Personal cheques shall not be cashed out of money held on behalf of the council.
13.6. The RFO shall ensure that VAT is correctly recorded in the council’s accounting
software and that any VAT Return required is submitted form the software by the
due date.
13.7. Where significant sums of cash are regularly received by the council, the RFO shall
ensure that more than one person is present when the cash is counted in the first
instance, that there is a reconciliation to some form of control record such as ticket
issues, and that appropriate care is taken for the security and safety of individuals
banking such cash.
14. Payments under contracts for building or other construction works
14.1. Where contracts provide for payment by instalments the RFO shall maintain a
record of all such payments, which shall be made within the time specified in the
contract based on signed certificates from the architect or other consultant engaged
to supervise the works.
14.2. Any variation of, addition to or omission from a contract must be authorised by [the
Clerk] to the contractor in writing, with the council being informed where the final
cost is likely to exceed the contract sum by 5% or more, or likely to exceed the
budget available.

15. Stores and equipment

15.1. The officer in charge of each section] shall be responsible for the care and custody
of stores and equipment in that section.
15.2. Delivery notes shall be obtained in respect of all goods received into store or
otherwise delivered and goods must be checked as to order and quality at the time
delivery is made.
15.3. Stocks shall be kept at the minimum levels consistent with operational
requirements.
15.4. The RFO shall be responsible for periodic checks of stocks and stores, at least
annually.

16. Assets, properties and estates

16.1. The Clerk shall make arrangements for the safe custody of all title deeds and Land
Registry Certificates of properties held by the council.
16.2. The RFO shall ensure that an appropriate and accurate Register of Assets and
Investments is kept up to date, with a record of all properties held by the council,
their location, extent, plan, reference, purchase details, nature of the interest,

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 tenancies granted, rents payable and purpose for which held, in accordance with
Accounts and Audit Regulations.
16.3. The continued existence of tangible assets shown in the Register shall be verified at
least annually, possibly in conjunction with a health and safety inspection of assets.
16.4. No interest in land shall be purchased or otherwise acquired, sold, leased or
otherwise disposed of without the authority of the council, together with any other
consents required by law. In each case a written report shall be provided to council
in respect of valuation and surveyed condition of the property (including matters
such as planning permissions and covenants) together with a proper business case
(including an adequate level of consultation with the electorate where required by
law).
No tangible moveable property shall be purchased or otherwise acquired, sold,
leased or otherwise disposed of, without the authority of the council, together with
any other consents required by law, except where the estimated value of any one
item does not exceed £500. In each case a written report shall be provided to
council with a full business case.

17. Insurance

17.1. The RFO shall keep a record of all insurances effected by the council and the
property and risks covered, reviewing these annually in conjunction with the
council’s review of risk management.
17.2. The Clerk shall give prompt notification of all new risks, properties or vehicles which
require to be insured and of any alterations affecting existing insurances.
17.3. The RFO shall be notified of any loss, liability, damage or event likely to lead to a
claim, and shall report these to the council at the next available meeting. The RFO
shall negotiate all claims on the council's insurers.
17.4. All appropriate members and employees of the council shall be included in a
suitable form of security or fidelity guarantee insurance which shall cover the
maximum risk exposure as determined annually by the council, or duly delegated
committee

18. Suspension and revision of Financial Regulations

18.1. The council shall review these Financial Regulations annually and following any
change of clerk or RFO. The Clerk shall monitor changes in legislation or proper
practices and advise the council of any need to amend these Financial Regulations.
18.2. The council may, by resolution duly notified prior to the relevant meeting of council,
suspend any part of these Financial Regulations, provided that reasons for the
suspension are recorded and that an assessment of the risks arising has been
presented to all members. Suspension does not disapply any legislation or permit
the council to act unlawfully.
18.3. The council may temporarily amend these Financial Regulations by a duly notified
resolution, to cope with periods of absence, local government reorganisation,
national restrictions or other exceptional circumstances.

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Appendix 1 - Tender process
1) Any invitation to tender shall state the general nature of the intended contract and the
Clerk shall obtain the necessary technical assistance to prepare a specification in
appropriate cases.
2) The invitation shall in addition state that tenders must be addressed to the Clerk in
the ordinary course of post, unless an electronic tendering process has been agreed
by the council.
3) Where a postal process is used, each tendering firm shall be supplied with a
specifically marked envelope in which the tender is to be sealed and remain sealed
until the prescribed date for opening tenders for that contract. All sealed tenders
shall be opened at the same time on the prescribed date by the Clerk in the presence
of at least one member of council.
4) Where an electronic tendering process is used, the council shall use a specific email
address that will be monitored to ensure that nobody accesses any tender before the
expiry of the deadline for submission.
5) Any invitation to tender issued under this regulation shall be subject to Standing
Order 18 and shall refer to the terms of the Bribery Act 2010.
6) Where the council, or duly delegated committee, does not accept any tender, quote
or estimate, the work is not allocated and the council requires further pricing, no
person shall be permitted to submit a later tender, estimate or quote who was present
when the original decision-making process was being undertaken.

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