Assets
- Where required stocks must be maintained at reasonable levels and subject to a regular independent physical check.
- Any variations must be noted, and if over £5,000 must be reported to the Section 151 Officer, and the Business Unit Head, who will report to the Cabinet.
- Items must not be over ordered to avoid obsolete stocks and the necessity for write-off.
- Stock checks must be undertaken, at least annually at year-end, by an officer not responsible for them. All discrepancies should be investigated and pursued to a satisfactory conclusion.
- Items should only be issued from stocks on production of a certified requisition note.
- A certificate of stock must be issued to the Section 151 Officer as at 31st March in all financial years.
- The Section 151 Officer is entitled to check stocks, if necessary requiring closure after consultation and agreement with the Business Unit Head concerned.
- All receipts and issues of stock must be properly accounted for in the Council’s financial records.
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