Administrative Matter - Amendment to the Scheme of Virement
To consider a minor amendment to the Council’s Scheme of Virement in order to provide clarification of the intention of an aspect of the Scheme.
It is proposed that Provision 7 of the Scheme be amended to read:
7. Virements between cost centres in excess of £1,000 must be approved by the Executive Committee, prior to the virement taking place.
This will provide clarification as to the intent of this provision and will bring the wording of the scheme in accordance with practice.
Minutes:
Members considered a proposed minor ‘technical’ amendment to the Scheme of Virement through which Officers were seeking to clarify an ambiguous financial regulation that dealt with virements.
RESOLVED that
Provision Seven of the Council’s Scheme of Virement be amended to read:
7. Virements between cost centres in excess of £1,000 must be approved by the Executive Committee prior to the virement taking place.