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Association of Police Authority Chief Executives and Police Authority Treasurers’ Society

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

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Association of Police Authority Chief Executives and Police Authority Treasurers’ Society

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  1. 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

  2. The Role of the Chief Finance Officer(s) • Statute • Fiduciary Duty (personal) • Professional Standards/Codes

  3. The Role of the Chief Finance Officer(s)Statute • 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 2011 • NB. Additional/separate statute requirements for London and Wales

  4. Unlawful expenditure/Unbalanced budget CFO reporting Personal statutory duty The Role of the Chief Finance Officer(s)S114 Local Government Act 1988

  5. The Role of the Chief Finance Officer(s) Fiduciary Duty • Attorney General v De Winton (1906) • CFO Support/Para 4 FMCP

  6. The Role of the Chief Finance Officer(s)Professional Standards • 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.

  7. The Role of the Chief Finance Officer(s)The Principles Principle 1 The 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.

  8. The Role of the Chief Finance Officer(s)The Principles Principle 2 The 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.

  9. The Role of the Chief Finance Officer(s)The Principles Principle 3 The 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.

  10. The Role of the Chief Finance Officer(s)The Principles Principle 4 The CFO must lead and direct, a finance function that is resourced to be fit for purpose.

  11. The Role of the Chief Finance Officer(s)The Principles Principle 5 The CFO must be professionally qualified and suitably experienced.

  12. The Role of the Chief Finance Officer(s)Practical Application • Consultation/Information Sharing • Mutual Confidence • Responsibilities • Principles • Management/Personal skills • Experience • Accountability

  13. The Role of the Chief Finance Officer(s)Breaching Professional Standards • CIPFA Bye-laws • Disciplinary Proceedings • Examples

  14. THANK YOU

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