|Managing Expenditure||Limited Guidance on procedure for transferring budgets between budget heads ‘virements’
Virement up to £10,000 require approval of Executive
Virements over £10,000 require approval of Council
|More robust rules around virement procedure and clearer limits for value of virements as shown below:
<£100 same service – Budget manager notify Director of Finance (DoF)
£100 to £1,000 same service – Chief officer/DoF
£1,001 to £5,000 same service – Management Board
< £5,000 between services or capital/revenue - Management Board
£5,001 to £50,000 – Executive approval
£5,001 to £50,000 between services or capital/revenue – Executive approval
Over £50,000 – Full Council
|Managing Expenditure||Limited Guidance on procedure for carrying forward budget provision between years, no limits specified.||Overspending above £1,000 on individual budget will be first call on that budget in the following year.
Planned carry forward amounts require the approval of the Director of Finance if below £5,000 and the Executive if above £5,000.