financial regs may 2016 page 7

1. BUDGETARY CONTROL AND A UTHORITY TO SPEND 1.1. Expenditure on revenue items may be a uthorised up to the amounts included for that class of expenditure in the approved budget. This a uthority is to be determined by: • the c ouncil for all items over £1 ,000; • a duly delegated c ommittee of the c ouncil for items over £ 25 0; or • the Clerk, in conjunction with Chairman of Council or Chairm an of the appropriate c ommittee, for any items below £ 250 . Such a uthority is to be evidenced by a m inute or by an a uthorisation slip duly signed by the Clerk , and where necessary also by the appropriate Chairman. Contracts may not be disaggrega ted to avo id controls imposed by the se r egulations. 1.2. No expenditure may be a uthorised that will exceed the amount provided in the revenue budget for that class of expenditure other than by r esolution of the c ouncil, or duly delegated c ommittee . During the budget year and with the approval of council having considered fully the implications for public services, unspent and available amounts may be moved to other budget headings or to an earmarked reserve as appropriate (‘virement’) . 1.3. Unspent provisions in the revenue or capital budget s for completed projects shall not be carried forward to a subsequent year . 1.4. The sala r y budgets are to be reviewed at least annually in [October] for the following fi n ancial year and such review shall be evidenced by a hard c o py schedule sig ned by the Clerk and the Chairman of Council or relevant c ommittee. The RFO will inform committees of any changes impacting on their budget requirement for the coming year in good time. 1.5. In cases of extreme risk to the delivery of council services, t he c ler k may a uthorise revenue expenditure on behalf of the c ouncil which in the clerk’s judgement it is necessary to carry out . Such expenditure includes repair, replacement or other work, whether or not there is any budgetary provision for the expenditure, subj ect to a limit of £ 2 5 0 . The Clerk shall report such action to the chairman as soon as possible and to the c ouncil as soon as practicable thereafter. 1.6. No expenditure shall be a uthorised in relation to any capital project and no contract entered into or tende r accepted involving capital expenditure unless the c ouncil is satisfied that the necessary funds are available and the requisite borrowing approval has been obtained. 1.7. All capital works shall be administered in accordance with the c ouncil's standing orders and financial regulations relating to contracts. The RFO shall regularly provide the c ouncil with a statement of receipts and payments to date under each head of the budgets, comparing actual expenditure to