1. General

    1. These Financial Regulations, and any subsequent amendments to them, shall be adopted by the NGN County Committee
    2. The NGN's financial year shall coincide with that of Norfolk county schools.

     

  2. Budget

    1. During the Spring Term, the County Committee shall consider estimates of income (from all sources) and of expenditure required to meet the NGN's objectives.
    2. The Treasurer shall propose a review of the current direct payment from Children's Services whenever a significant imbalance appears probable. If necessary the Treasurer together with the Chair of NGN will negotiate a revised payment from Children's Services.
    3. An excess of expenditure over income shall not be proposed or approved unless combined with the means of restoring a balance.

     

  3. Delegation of Responsibility

    1. The Treasurer and named members of the County Committee shall be authorised to establish and operate a bank current account in the name of the NGN into which all income due to and from which all expenditure on behalf of, the NGN shall be paid. This authority does not extend to obtaining credit on behalf of the NGN.
    2. The same members may establish and operate a deposit account in the name of the NGN. All payments into it shall be by way of transfer from, and all withdrawals from it by way of transfer to, the NGN's current account.
    3. Payments from NGN accounts shall require the signatures of two of the authorised members excluding, in any instance, any one receiving the payment.
    4. The initiative in operating NGN accounts and the custody of related documents shall normally be with the Treasurer.

     

  4. Financial Records

    1. The Treasurer shall be responsible for maintaining records adequate for demonstrating to the auditor(s) that the annual accounts present a true and fair view of the NGN's income and expenditure during, and changes in its assets over the year.
    2. The Treasurer will report through the appropriate sub-committee to the County Committee on significant developments in the NGN's financial position and present audited accounts within four months of a financial year's ending.

     

  5. Expenses

    • General

      1. Only members of the County Committee, and others authorised by it, may claim eligible expenses arising from eligible duties and subject to these regulations.
      2. To be eligible, duties must have been undertaken primarily on behalf of the NGN as distinct from arising through representing one's own governing body.
      3. To be eligible, expenses must have been reasonably, and actually, incurred for items which were necessary for undertaking eligible duties.
      4. Except for travel reimbursed at a mileage rate, claims should be supported by appropriate evidence (e.g. receipts, tickets) whenever possible.
      5. Claims should be submitted to the Treasurer at any time on a form approved by the Treasurer, but in a timely manner after the occurred expense. All claims within a financial year must be submitted to the treasurer no later than 14th April; any such claims received after this date will not be paid.
      6. The Treasurer may approve payment of claims which s/he is satisfied fall within the authority given by these regulations but shall otherwise refer the claim (or any part) to the County Committee for decision.
    • Travel, Subsistence & Childcare Allowance for Attendance & Representation

      1. Attendance at NGN meetings (County Committee, sub-committees, conferences and working parties) is an eligible duty of all County Committee members.
      2. Representing the NGN at meetings with representatives of Norfolk County Council or meetings of other organisations (including the National Governors' Association) will be eligible duties for those appointed by the County Committee to under-take specific representative functions.
      3. In exceptional circumstances travel costs may be reimbursed for attending meetings or business on behalf of governing bodies other than the claimant's own or on behalf of Children's Services. Reimbursement should be approved by the Chair of NGN and the Treasurer.
      4. Claims for attendance and representation shall not exceed the rates currently applying to Norfolk County Council officers.
    • Communication

      1. Reasonable postal and telecommunication expenses incurred on NGN business between those eligible to submit claims (regulation 5.1) is an eligible duty.

     

  6. NGN Property

    1. NGN equipment shall be held on the authority of the Treasurer, who shall keep a register of such holdings.
    2. The authorised holders of NGN equipment shall be responsible for its maintenance in good order and insurance - which shall be an eligible duty - and for certifying to that effect if auditors so request.
    3. Unless a particular exception is approved, depreciation of equipment shall be provided for in the annual budget at an annual rate of 25% over four years.
    4. On ceasing to need it for NGN duties and, in any case, on leaving office, authorised holders of NGN equipment shall either return it or pay to the Treasurer the proportion of its cost not yet covered by depreciation provision.

     

Adopted by County Committee 25.04.2012