NALC launches consultation to update the Model Financial Regulations
The National Association of Local Councils (NALC) is working with The Parkinson Partnership LLP to update its 2019 Model Financial Regulations for England and Wales.
The model financial regulations are part of a support package that local (parish and town) councils receive through their NALC and county association membership. They are an essential tool for councils of all sizes, setting out the framework within which the council ensures responsible, sustainable and compliant management of its finances.
NALC is seeking views on the technical aspects of the regulations. The responses will inform the revision and content of these regulations. The consultation will not result in any changes to existing legislation.
NALC would like to know:
- Is the description of budget preparation (Section 3) adequate, and if not, what changes should be made?
- How should we improve the wording (Section 4) about expenditure monitoring?
- What changes are needed to manage safe and satisfactory delegation of authority to staff (Section 5)?
- Suggestions for amendments to improve control of online payments and banking (Sections 5 and 6)?
- What revisions are needed to manage procurement (Sections 10,11 and 12) effectively?
- What additional regulations may be necessary concerning financial risk management (Section 17)?
- Which regulations create challenges for transparency or protecting personal and commercially sensitive data?
- What, if anything, should be removed from the model regulations and why?
- Which paragraphs, if any, are obsolete and need replacing?
- Are there any other issues that should be covered within financial regulations?
To submit views, complete the form by 5 November 2023. The existing version of the 2019 Model Financial Regulations for England and Wales is located in the templates section of the member's area on the NALC website.