association of police authority chief executives and police authority treasurers’ society
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Association of Police Authority Chief Executives and Police Authority Treasurers’ Society Joint Seminar 13, 14 September 2012 The Role of the Chief Financial Officer(s) BOB SUMMERS Treasurer to Norfolk Police Authority. The Role of the Chief Finance Officer(s). Statute - PowerPoint PPT PresentationTRANSCRIPT
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Association of Police Authority Chief Executives and Police Authority Treasurers’ Society
Joint Seminar13, 14 September 2012
The Role of the Chief Financial Officer(s)
BOB SUMMERS Treasurer to Norfolk Police Authority
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• Statute• Fiduciary Duty (personal)• Professional Standards/Codes
The Role of the Chief Finance Officer(s)
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• Appointment S151 Local Government Act 1972 S113 Local Government Act 1988 S58 Local Government Act 1958 S25 Local Government Act 2003 Para 7, Schedule 1, Para 5, Schedule 2, PRSR Act
2011 Accounts and Audit Regulations
• Unlawful expenditure/insufficient resources S114, Local Government Act 1988/S118, Schedule 16
PRSR Act 2011NB. Additional/separate statute requirements for London and Wales
The Role of the Chief Finance Officer(s)Statute
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• Unlawful expenditure/Unbalanced budget• CFO reporting• Personal statutory duty
The Role of the Chief Finance Officer(s)S114 Local Government Act 1988
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• Attorney General v De Winton (1906)• CFO Support/Para 4 FMCP
The Role of the Chief Finance Officer(s) Fiduciary Duty
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• Status 2012 CFO Statement Adoption, Comply/Explain, Non CIPFA CFOs
• IFAC 2010 Code of Ethics Integrity, Objectivity, Professional
Competence, Due Care, Confidentially, Professional Behaviour
• Codes of Practice/Standards/Best Practice Prudential Capital Finance, Treasury
Management, Accounting, Audit, Governance, Pensions etc.
The Role of the Chief Finance Officer(s)Professional Standards
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Principle 1The Chief Finance Officer of the PCC and CC is a key member of the Leadership Team, helping it to develop and implement strategy and to resource and deliver the PCC’s strategic objectives sustainably and in the public interest.
The Role of the Chief Finance Officer(s)The Principles
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Principle 2The CFO must be actively involved in, and able to bring influence to bear on, all material business decisions (subject to the operational responsibilities of the Chief Constable) to ensure immediate and longer term implications, opportunities and risks are fully considered, and align with the overall financial strategy.
The Role of the Chief Finance Officer(s)The Principles
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Principle 3The CFO must lead and encourage the promotion and delivery of good financial management so that public money is safeguarded at all times and used appropriately, economically, efficiently, and effectively.
The Role of the Chief Finance Officer(s)The Principles
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Principle 4The CFO must lead and direct, a finance function that is resourced to be fit for purpose.
The Role of the Chief Finance Officer(s)The Principles
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Principle 5The CFO must be professionally qualified and suitably experienced.
The Role of the Chief Finance Officer(s)The Principles
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• Consultation/Information Sharing• Mutual Confidence • Responsibilities• Principles• Management/Personal skills• Experience• Accountability
The Role of the Chief Finance Officer(s)Practical Application
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• CIPFA Bye-laws• Disciplinary Proceedings• Examples
The Role of the Chief Finance Officer(s)Breaching Professional Standards
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