1
The Finance Sub-Committee will co-ordinate the management and
oversight of the Council’s finances, performance and corporate risk management
arrangements. The Sub-Committee will make recommendations to the
Corporate Policy Committee regarding the development of the
Medium Term Financial Strategy and the
setting and monitoring of the Capital and Revenue Budgets in
accordance with the Corporate Plan and the Policy Framework.
2
The Sub-Committee’s responsibilities include:
·
determination of finance issues, including but not
limited to Treasury Management, Insurance, Procurement, debt write
off, settlement payments and virements in line with the
constitution;
·
establishment of a Procurement Forward Plan;
·
oversight of the Investment Strategy;
·
grant awards for sums in excess of £50,000;
·
property transactions including buying selling and
appropriation of land and property (including compulsory purchase
where required);
·
management of the Council’s involvement in
ASDVs and overseeing the production of an Annual Report on
performance;
·
making decisions as Shareholder, reviewing and
approving Business plans, including risk registers and
commissioning services and functions from the Council’s
ASDVs.
3
Oversight, scrutiny and budgetary review
of the following functions: Land and Property; Central Budgets;
Pensions; Grants; Council Tax; Business Rates; Reserves; and Other
Funding.