To receive and consider the report of the R.F.O.
The Committee received and considered the report of the Responsible Financial Officer along with the amended Financial Regulations.
A member raised a question in respect of the removal of the definition of “material” from page 8. The RFO explained the definition was too prescriptive and removing it would reduce the time taken to produce reporting when small monetary amounts are involved.
All members were in favour of the adoption of the amended Financial Regulations.
1. That, the report be noted and,
2. That, the amended financial regulations be adopted by the Full Council on 17 April 2023 and,
3. That, the financial regulations be reviewed by 20 April 2025 and regularly thereafter.