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Report 11 of the 27 Jun 02 meeting of the MPA Committee and discusses changes to Financial Regulations which have been recommended by the Finance, Planning & Best Value Committee.

Warning: This is archived material and may be out of date. The Metropolitan Police Authority has been replaced by the Mayor's Office for Policing and Crime (MOPC).

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Financial regulations

Report: 11
Date: 27 June 2002
By: Treasurer

Summary

This report seeks agreement to changes to Financial Regulations which have been recommended by the Finance, Planning & Best Value Committee.

A. Recommendations

  1. That the amendments to the Financial Regulations be adopted as shown in the appendix to this report.

B. Supporting information

1. At its meeting on 29 May 2002, the Finance, Planning and Best Value Committee (FPBV) considered and agreed a report proposing some amendments to the Authority's Financial Regulations. These amendments reflect the experience of the MPA's operation since July 2000. They cover three main areas: revenue budget virement; the approval and management of the capital programme; and the role of internal and external audit. The regulations have also been amended relating to submissions for additional grant funding, in response to points raised at the Committee..

2. Appendix 1 (see Supporting material) shows how it is proposed to amend Financial Regulations (with deletions struck out and additions underlined).

C. Financial implications

3. There are no direct financial implications.

D. Background papers

Current Financial Regulations

E. Contact details

Report author: Ken Hunt, MPA Deputy Treasurer, MPA.

For information contact:

MPA general: 020 7202 0202
Media enquiries: 020 7202 0217/18

Supporting material

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