Financial Regulations
Argyll and Bute Council · 29 May 2024
Back to Argyll and Bute HSCP Integration Joint Board (IJB) — 29 May 2024 and its agenda
Text extracted from the council's PDF. Layout and reading order may differ from the original.
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1 Integration Joint Board Date of Meeting: 29 May 2024 Title of Report: Financial Regulations Presented by: James Gow, Head of Finance The Integration Joint Board is recommended to: ▪ Note that the Financial Regulations have been reviewed by officers and have been shared with both partners; and ▪ Approve the Financial Regulations. 1. EXECUTIVE SUMMARY The IJB is required to have in place financial regulations which are designed to contribute to the system of governance, assurance, financial management and control of the activities delegated to the IJB. The Financial Regulations should be reviewed on a regular basis, this report is seeking IJB approval for these following review by the Chief Finance Officer and the Strategic Leadership Team. The revised Financial Regulations have been re-shared with both partners. No substantive changes are being recommended. It is proposed that the Financial Regulations will next be reviewed in three years unless there is a requirement to undertake this at an earlier date. 2. DETAIL OF REPORT The Financial Regulations have been reviewed by officers of the HSCP and only minor changes to wording have been made, largely to reduce repetition. The purpose of the regulations is primarily to outline the governance arrangements and responsibilities concerning the operation of the IJB. The document is heavily focussed upon financial management processes and responsibilities of the Chief Financial Officer, Chief Officer and budget holders within the HSCP. It also outlines the responsibilities of the Director of Finance of NHS Highland and the Section 95 Officer of Argyll & Bute Council in relation to supporting the governance of the HSCP / IJB. The Financial Regulations are supported by operational processes and procedures within both partner organisations and focus on setting the high level framework for financial governance within the IJB only. The Financial Regulations also confirm that the IJB does not own the assets it utilises and cannot incur capital spend, such responsibilities are held by both
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2 partners. Officers of the IJB are expected to contribute to the development of business cases to support and direct capital investment and maintenance. Overall, the review of the Financial Regulations has not resulted in any material changes and the review provides management assurance that the financial management and governance framework operating within the IJB is compliant with these regulations. External assurance is provided through the internal and external audit processes which include regular review of key governance documents and their implementation. 3. RELEVANT DATA AND INDICATORS None 4. CONTRIBUTION TO STRATEGIC PRIORITIES Financial sustainability and sound management of public funds administered by the IJB are important strategic priorities. 5. GOVERNANCE IMPLICATIONS 5.1 Financial Impact None directly from the review of the Financial Regulations. The process of regular review provides the IJB with the opportunity to re-consider financial governance arrangements. 5.2 Staff Governance The Financial Regulations outline the responsibilities of senior staff within the HSCP / IJB and partners. They also seek to ensure processes are in place to monitor and control expenditure in line with budget, in practise this has staff governance implications. 5.3 Clinical and Care Governance None directly arising from the contents of this report. 6. PROFESSIONAL ADVISORY 6.1 The revised financial regulations have been considered by the full Strategic Leadership Team. 7. EQUALITY & DIVERSITY IMPLICATIONS 7.1 There are no equality and diversity implications associated with the contents of this report. 8. GENERAL DATA PROTECTION PRINCIPLES COMPLIANCE 8.1 None 9. RISK ASSESSMENT 9.1 The Financial Regulations seek to ensure that clear financial governance arrangements are in place. These in turn contribute to the governance
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3 and financial control framework and contributes to the mitigation of a number of financial, reputational and governance risks. 10. PUBLIC & USER INVOLVEMENT & ENGAGEMENT 10.1 The Financial Regulations are publicly available. 11. CONCLUSIONS The Financial Regulations have been reviewed and no material changes are being recommended. They are considered to continue to be appropriate, it is recommended that they will next be reviewed in three years time. 12. DIRECTIONS Directions required to Council, NHS Board or both. Directions to: tick No Directions required x Argyll & Bute Council NHS Highland Health Board Argyll & Bute Council and NHS Highland Health Board 13. PREVIOUS REVIEW OF THE REPORT Meeting Title of report Date Output (if relevant) Strategic Leadership Team Financial Regulations 07/05/24 Recommended to the IJB APPENDICES: Appendix 1 – Financial Regulations REPORT AUTHOR AND CONTACT AUTHOR NAME: James Gow, Head of Finance EMAIL: james.gow@argyll-bute.gov.uk