LEGAL TOPIC NOTE 55

THE NATIONAL ASSOCIATION OF LOCAL COUNCILS 109 GREAT RUSSELL STREET LONDON WC1B 3LD

FINANCIAL REGULATIONS MAY 2017

as amended at Meeting No KGPC/MW/132

INDEX

1. GENERAL ...........................................................................................................................................2

2. ACCOUNTING AND AUDIT (INTERNAL AND EXTERNAL)..............................................................5

3. ANNUAL ESTIMATES (BUDGET) AND FORWARD PLANNING ......................................................6

4. BUDGETARY CONTROL AND AUTHORITY TO SPEND .................................................................7

5. BANKING ARRANGEMENTS AND AUTHORISATION OF PAYMENTS ..........................................8

6. INSTRUCTIONS FOR THE MAKING OF PAYMENTS ......................................................................9

7. PAYMENT OF SALARIES ............................................................................................................... 12

8. LOANS AND INVESTMENTS .......................................................................................................... 13

9. INCOME ........................................................................................................................................... 14

10. ORDERS FOR WORK, GOODS AND SERVICES.......................................................................... 15

11. CONTRACTS ................................................................................................................................... 15

12. [PAYMENTS UNDER CONTRACTS FOR BUILDING OR OTHER CONSTRUCTION WORKS.... 17

13. [STORES AND EQUIPMENT........................................................................................................... 17

14. ASSETS, PROPERTIES AND ESTATES........................................................................................ 17

15. INSURANCE .................................................................................................................................... 18

16. [CHARITIES ..................................................................................................................................... 18

17. RISK MANAGEMENT ...................................................................................................................... 19

18. SUSPENSION AND REVISION OF FINANCIAL REGULATIONS .................................................. 19

Tel: 020 7637 1865  Fax: 020 7436 7451  e-mail: nalc@nalc.gov.uk  website: www.nalc.gov.uk

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