The Chief Officer – Finance, Performance and Change presented a report which sought Cabinet approval of the updated Grants Financial Management Policy at Appendix A and to confirm the grant acceptance approval finance authorised signatories for the Council. She explained that the Council’s current Grants Financial Management Policy that was in place was approved by Cabinet in 2019.

The Chief Officer – Finance, Performance and Change highlighted the key applications of the Grants Financial Management Policy, which were set up in Appendix 1 of the report. She summarised the Audit report findings and lessons from Wales Audit Office’s annual statement of performance, which were set out in section 11 of Appendix 1.

The Cabinet Member Resources welcomed the report and stated that it provided transparency to the Policy. The audit report identified low risks but these had been reflected in the updated policy. The Leader echoed these comments and added that he was pleased to see that our newest corporate priorities were reflected in this.

The Deputy Leader asked for reassurance that our processes were proportionate to the levels of funding that were being applied for, giving the example of a small amount of money requiring a contract to be signed. The Chief Officer Finance, Performance and Change gave assurance of this.

The Leader highlighted the importance of this and provided an example of grant money provided by BCBC to an organisation which had appropriate processes and procedures in place to ensure transparency, accountability  while also being as seamless as possible.

RESOLVED: That Cabinet approve the Grants Financial Management Policy at Appendix A and the list of finance officers as per paragraph 4.3.