Assets

27 Stocks

27.1 Overview

It is important for the efficient operating of the Authority’s services that appropriate stocks are maintained.  Otherwise provision of services may be delayed whilst items required are ordered and delivered.  These stocks need to be stored securely, and their use controlled and monitored

27.2 Responsibility/Accountability

27.2.1 Section 151 Officer (click here for all responsibilities for the Section 151 Officer)

Preparing and monitoring the procedures which govern the maintenance of stocks within the Authority.

Inspection and verifying the various stocks of the Authority via the Internal Audit function.

Dealing with reported discrepancies in the appropriate manner.

27.2.2  Business Unit Heads (click here for all responsibilities for Business Unit Heads)

Ensuring the proper custody of stock under their supervision and that they are subject to an effective system of recording and control.

Writing off discrepancies in accordance with the write off procedures in this Framework.

Reporting discrepancies to the Section 151 Officer.

27.3 Policy (click here for detailed procedures)

The Authority will maintain adequate stocks in order that the provision of services is effective and efficient.  These will be reviewed as a minimum on an annual basis.
(click here for details of the Authority’s Write-Off procedures.)