Search Results for "budget"
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Chapter 63: Financial regulations and procedure rules
All Directorates are entitled to bid for resources within the Corporate budget.
The Authority must decide the level of General Reserves it wishes to maintain as part of its financial planning before it can set the annual Council Tax. Reserves are maintained as a matter of prudence. They enable the authority to provide for unexpected events and thereby protect it from overspending, should such events occur. Reserves for specific purposes may also be maintained, such as the purchase or renewal of capital items. Accounting policies require these to be differentiated from Provisions, the latter being maintained to meet future expenditure arising from a past event the timing of which is uncertain and cannot therefore be contained in the annual budget.
To proceed with projects only when there is a budget within the agreed capital programme and adequate capital resources have been identified.
To obtain a supplementary capital budget where an individual Capital Scheme is projected to spend in excess of the original approval, or an additional scheme needs approval.A supplementary capital budget can be granted by the appropriate Corporate Director if the overspend is less than £1M – Financial Regulation B10.Executive approval must be obtained for Supplementary Capital budgets in excess of £1M. An explanatory report is required.
To ensure that adequate provision is made in the revenue budget for any ongoing revenue costs arising from capital schemes.
To issue detailed guidance and instructions on the procedures, responsibilities and timetable for preparing Revenue Budgets.
To provide guideline cash budget options to Members following Government announcements.
To work within the political budget strategy provided by the Executive.
To manage, in conjunction with Directorates, a process to deliver a balanced budget.
To collate the exemplifications of savings or growth from departments, as required by the budget strategy.