 MODEL FINANCIAL REGULAT IONS Page  9 of  20 a) An expenditure item authorised under 5. 6 b e low (continuing contracts and  obligations) provided that a list of such payments shall be submitted to the next  appropriate meeting of  c ouncil or  f inance  c ommittee ; or  b) fund transfers with in the councils banking arrangements up to the sum of £ 500 , provided that a list of such payments shall be submitted to the next appropriate  meeting of  c ouncil or  f inance  c ommittee . 1.1. For each financial year the Clerk and RFO shall draw up a list of due paym ents  which arise on a regular basis as the result of a continuing contract, statutory duty, or  obligation (such as but not exclu s ively, Salaries, PAYE and NI, Superannuation Fund  and regular maintenance contracts and the like for which  c ouncil [,or a duly  authorised  c ommittee,] may a uthorise payment for the year provided that the  requirements of regulation  4.1  (Budgetary Controls) are adhered to ,  provided also  that a list of such payments shall be submitted to the next appropriate meeting of  c ouncil or Fina nce C ommittee . 1.2. A record of regular payments made under 5.6 above shall be drawn up and be  s i gned by two members on each and every occasion when payment is authorised - thus controlling the risk of duplicated payments being authorised and  /  or made. 1.3. In res pect of grants a duly authorised  c ommittee  shall approve expenditure within  any limits set by  c ouncil and in a ccordance with any p olicy statement approved by  c ouncil.  Any Revenue o r Capital Grant in excess of £500 shall before payment , be  subject to ratif ication by r esolution of  the  c ouncil . 1.4. Members are  subject to the Code of Conduct  that has been adopted by the  c ouncil  and shall  comply with the Code and Standing Orders  when a decision to authorise  or  instruct  payment is made in respect of a matter in whi ch they have a  disclosable  pecuniary  or other interest , unless a dispensation has been granted . 1.5. The  c ouncil  will aim to rotate the duties of members in these Regulations so that  onerous duties are shared out as evenly as possible over time. 1.6. Any changes in  the recorded details of suppliers, such as bank account records,  shall be approved in writing by a Member . 2. INSTRUCTION S FOR THE MAKING OF PAYMENTS 2.1. T he  c ouncil will make safe and efficient arrangements for  the  making of its  payments. 1.1. Following authorisati on under Financial Regulation 5 above, the  c ouncil, a duly  delegated  c ommittee or, if so delegated, the Clerk  or RFO  shall give instruction that a  payment shall be made.
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