Income and Expenditure

39 Unoffical Funds

39.1 Overview

An unofficial fund is one where the income and expenditure does not form part of the Council’s accounts, but which is controlled wholly or in part by an Officer employed by the Authority or a semi-autonomous body.

39.2 Responsibility/Accountability

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

Agreeing to the setting up of all unofficial funds and to issue and update accounting instructions for these funds where necessary.

39.2.2 . Business Unit Heads (click here for all responsibilities of Business Unit Heads)

Notify the Section 151 Officer and seek agreement for the setting up of all new unofficial funds where the income and expenditure is independent of the Council’s accounts.

Ensure all unofficial funds are controlled by an Officer who is employed by the Council or a semi-autonomous authority.

Maintaining records in accordance with this Framework of every unofficial fund showing all income and expenditure and arranging an independent annual audit

Ensure there is at least an annual update of the account where the funds of the unofficial fund are held by a bank or building society.

39.3 Policy (click here for detailed procedures)

Unofficial funds are only set up through the Section 151 Officer.

Funds are regularly and independently audited.