Managing Budgets
103.1 Overall Limits
There is no financial limit on the level of virement.
Budget Responsible Officers can authorise virement between summary objective levels within a service (or services if they are responsible for more than one).
Business Unit Heads can vire between services for which they are responsible.
Directors can authorise virement between Business Units if they do not cross Portfolio.
Cabinet Members can authorise virement between services within their portfolio definition.
Full Cabinet must approve all other virements.
103.2 Definition of Budget
- A service for virement purposes is determined as a single page from the Council’s Budget Book.
- A budget for virement purposes is defined as expenditure or income at summary subjective level e.g. Employees.
- Virement to or from Recharges and Asset Rentals is not permitted unless approved by the Section 151 Officer.
- All other budgets can be vired subject only to any other Council policies and not committing the Council to future additional budget pressures.
103.3 Procedures
- All virements must be notified to Accountancy who will ensure they comply with the policy and that they are reflected in the General Ledger.
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