| Importance of this area |
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| The importance of this area is in the local authority’s distinctive leadership role for the community, bringing together contributions from the various stakeholders, maximising funding opportunities and achieving best value. This may involve the establishment of partnership arrangements, joint ventures, pooled budgets and externally funded projects, and it is essential that the responsibilities, obligations and commitment attached to such arrangements are properly managed and accounted for. |
E1 Partnership Arrangements, Joint Ventures and Pooled Budgets
E1.1 The Director of Finance, IT & Trading must be consulted on the financial and probity implications of all partnership agreements, joint ventures, pooled budgets and similar arrangements before any such agreements are finalised. Such arrangements must be approved by the Director of Finance and IT and be in accordance with the detailed standards below. Service Directors are required to agree and formally accept the roles and responsibilities of each of the partners involved before the project commences and to communicate regularly with partners for the duration of the project.
E1.2 Service Directors are responsible for assessing the risks and benefits associated with partnership, joint venture or pooled budget arrangements and for ensuring any such arrangement is in the best interest of the Council and its service users.
E1.3 Service Directors are responsible for promoting and maintaining the same high standards of conduct with regard to financial administration in partnerships, joint ventures and pooled budgets that apply throughout the authority.
Detailed Standards E1.1.1 Partnership arrangements may be used as a means of acquiring goods, works or services and may be of a complex nature. It is therefore necessary that the Director of Finance, IT & Trading is consulted on the financial implications of such arrangements and must approve that: (a) Costs and income are provided for in the Council’s budget; (b) Arrangements are in place for accurate accounting for costs and income; (c) Sufficient controls are in place for the successful operation of the partnership, including arrangements for sufficient access to financial and other records; (d) Carry forward arrangements have been determined. (e) A formal risk assessment has taken place and a management strategy devised (f) An auditing regime has been established. |
E2 External Funding
E2.1 The Director of Finance, IT & Trading must be consulted on the financial and probity implications of all projects involving funding from external sources (eg Lottery grants, European Social Funds etc).
E2.2 In promoting or committing the authority to any externally funded projects Service Directors must ensure adherence to the Council’s ‘External Funding Minimum Standards’.
E2.3 All funding received from external bodies or associated parties must be properly recorded in the authority’s accounts.
E2.4 Key conditions of funding and any statutory requirements must be understood and followed
E2.5 Any match-funding requirements must be given due consideratiion prior to entering into long term agreements and future revenue budgets must reflect those requirements
E3 Work for Third Parties
E3.1 Proposals should be costed properly before an agreement is reached to do work for a third party. Formal contracts or a memorandum of understanding should be drawn up prior to any work commencing.
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