The Policy & Resources Committee meets approximately every six weeks and has responsibility for:

TERMS OF REFERENCE OF POLICY & RESOURCES COMMITTEE
ADOPTED BY COUNCIL 23.10.17

• Be responsible for the monitoring of the budgets of the Council to ensure expenditure is within the budgetary limits and income is being met, as agreed by Council.
• Consider and agree any proposed budget virements.
• Monitor the bank balances, general reserves and investments/deposits of the Council.
• Determine and monitor ear marked reserves and consider amendments when appropriate.
• Responsible for the investment strategy of the Council and agreeing to new investments/deposits.
• Monitor and agree arrangements for required Council insurances.
• Be responsible for determining minor grant applications within its budgetary limits and within the approved grant aid policy.
• Host a finance/budget workshop in October each year, prior to the formulation of the draft budget and precept request for the ensuing year.
• To be responsible for the corporate development of Council policies to be recommended to full Council for adoption.
• To be responsible for the Policy & Resources Committee workstream in the Council’s Strategic Plan and some priorities in the Maximising Opportunities Workstream. (Note that the Advisory Policy Group takes responsibility for reviewing the plan on a quarterly basis. Should a committee Chairman be unavailable, then the Vice Chairman should attend).
• Have the power to respond to corporate consultations from outside agencies.
• Responsibility for sub committees with their own delegated functions.
• Responsibility for working parties with their own delegated functions.
• To invite external agencies to give presentations to meetings to develop polices.
• Be empowered to liaise with anybody, organisation or department of any local authority or utility board on any matter within the Committee’s area of responsibility.