Issue - meetings

Report of the Executive Director for Finance and Commercialisation reporting on the introduction of a new Financial Management Code from the Chartered Institute of Public Finance and Accountancy and the responsibilities within it.

The Committee received and noted the report of the Executive Director for Finance, Commercialisation and S151 Officer reporting on the introduction of the new Code of Practice on Financial Management and the responsibilities within it.  The Committee further received and noted the principles included in the Code and the self assessment shown in Appendix 1, including the action plan to ensure alignment to the Code.

The Committee noted that the Code was designed to support good practice in financial management and to assist with demonstrating financial sustainability.  The Committee particularly noted the principles of good financial management as set out in paragraph 8 of the report.