DIRECTORS

Financial Management Standards

Ensure that the  full financial implications of all proposals for corporate policies and strategies have been evaluated, confirming that the risks have been identified and that corporate objectives and service improvement priorities have been taken into account

Complying with and making recommendations to Cabinet on future strategies for achieving Council policies and strategies and the means by which they are implemented.

Revenue Budget Monitoring

Directors’ Management Team will be responsible for evaluating monthly monitoring statements and challenging Business Unit Heads to account for the results.

Intervene or take full operational control of a Business Unit or part of it as instructed by the Chief Executive.

Where a Director has a statutory responsibility for the operation of a service budget they are accountable to the Chief Executive for spending within the budget and reporting any variations actual or estimated and the action proposed to correct any overspends.

Directors’ Management Team will determine the most appropriate use of any windfall gains as a result of underspends in order to best achieve corporate objectives, service improvement priorities and efficient use of resources.

Virements – Revenue

Where a Director has statutory responsibility for a service
• they are responsible for approving virements between the services for which they are responsible, as long as they do not cross portfolio’s.
• they are responsible for obtaining the appropriate approvals from Cabinet
• they are accountable to the relevant Cabinet Portfolio Member and Chief Executive for complying with the policy and regulations governing virements.
• They are responsible for notifying Accountancy of all approved virements

Treatment of Year End Balances – Revenue

Assessing the annual Revenue Outturn Report detailing the action taken on the previous financial year’s carryforward amounts to ensure that proposals were actioned.

Directors’ Management Team will determine the most appropriate use of any windfall gains as a result of underspends in order to best achieve corporate objectives, service improvement priorities and efficient use of resources.

Where a Director has a statutory responsibility for a service; they are responsible for reporting any overspend, and the action agreed to address it, to the Chief Executive.  Where the Business Unit Head is responsible for a service which comes under the remit of a Director for statutory reasons, the reporting is to that Director, not Directors’ Management Team.

Accountable to Directors’ Management Team for the implementation of action relating overspent budgets carried forward.

Submitting a “Carry Forward of Year End Balance Certificate” for the carry forward of a net underspend to the Section 151 Officer by 31 March. (Click here for a blank Carry Forward of Year End Balance Certificate.)

Accountable to the relevant Cabinet Portfolio Member and Chief Executive for complying with the policy and regulations.

Identifying year-end balances and proposing treatment for them.

Notifying Accountancy of year-end balances and proposed treatment.

Reporting to Cabinet, Chief Executive and Directors’ Management Team in the Revenue Outturn Report issued in the financial year following the year of the carry forward, detailing how underspends were used and how overspends have been addressed.

Capital and Contracts Monitoring

Receive regular capital monitoring reports from Business Unit Heads.

Approving action proposed by Business Unit Heads with regards variations against budget on capital schemes, and monitoring its implementation.

Complying with the financial regulations in Part IV.

Performance Plans

Reviewing Performance Plans to ensure they meet with the corporate objectives and service improvement priorities.

Leading on any development or improvement to the policy on Performance Plans.

Monitoring the performance plans of the Authority on a monthly basis and challenging Business Unit Heads with regards any variations.

Leading the development of corporate and service targets, objectives and performance indicators and monitoring their implementation.

 
Financial Strategy

Leading on the development and improvement of the Financial Strategy.

Collectively recommending a multi-year Financial Strategy to the Cabinet.

Ensuring the Financial Strategy is implemented.

Resource Allocation – Revenue

Contribute to the development of resource allocation methods/models.

Provide direction and guidance in the allocation of revenue resources including the determination of where windfall gains will be applied.

Ensure that corporate objectives and service improvement priorities are reflected in the allocation of resources and within Service and Performance Plans.

Resource Allocation – Capital

Ensuring that corporate objectives and service improvement priorities are reflected in the allocation of capital resources.

Leading on the development and improvement of a resource allocation method.

Leading in the development and improvement of the Capital Strategy.

Budget Format

Determining their own requirements in consultation with Section 151 Officer.

Revenue Budget Preparation

Ensuring that the Financial Strategy is implemented by Business Unit Heads in the preparation of Revenue Budgets.

Calling to account any Business Unit Heads who prepares a revenue budget without incorporating the requirements of the Financial Strategy.

Capital Expenditure

Comply with the Council’s Capital Strategy and other guidance concerning capital schemes and controls issued by the Section 151 Officer.

Leading on the efficient and effective allocation of capital resources in line with corporate objectives and service improvement priorities.

Capital Funding Sources

Leading in the development and monitoring of a strategy for dealing with corporate assets.

Fees & Charges

Leading on the development and improvement of the Fees and Charges Strategy.

Borrow to Invest to Save

Leading on the allocation of Borrow to Invest resources to achieve corporate objectives and service improvement priorities.

Risk Management & Insurance

Collectively lead the development and improvement of the  Risk Management policy..

Ensure that the Risk Management Policy is implemented by Business Unit Heads.

External Financial Audit

Giving access to external auditors at all reasonable times to premises, personnel, documents and assets which are considered necessary for their work, together with any information and explanations which they seek.

Assigning to an appropriate officer the requirement to deal with any non-financial recommendations made by the External Auditor, as advised by the Section 151 Officer.

Preventing Fraud and Corruption

Leading the development and maintenance of an anti-fraud and anti-corruption policy.

Reporting any suspected irregularities or financial impropriety.

Instigating the use of the Council’s disciplinary procedures where appropriate.

Treasury Management

Leading on the development and improvement of the Treasury Management Strategy.

Ensuring that the Treasury Management Strategy is implemented.

Information Systems

Ensuring compliance with the Council’s ICT strategy.

Ensure compliance with various Acts of Parliament covering Data Protection and Computer Security, and to ensure all officers are made aware of their responsibilities.

 
Gifts & Hospitality

Comply with corporate guidelines and the Councils Code of Conduct in respect of gifts, hospitality and personal interests.  In addition guidance from professional institutes and other bodies must be followed in appropriate cases.

Partnerships

In consultation with the Chief Executive determine the most appropriate officer to represent the Authority on any partnership or external body, in accordance with the relevant agreement.