Accounting Arrangements. The City of Edinburgh Council has been nominated, and will assume the role of Partnership Treasurer and acting as the accountant for the Lothian and Borders Partnership collective. It will be responsible for receiving grants from the Scottish Programme Office and reallocating these to individual participants. The Partnership Treasurer will receive grant funding on a regular basis from the Scottish Programme Office based on its continuing performance against targets. Each participant is required to provide a detailed breakdown of expenditure incurred each period/month. This breakdown should be included with the invoice raised against the Partnership Treasurer. Participants will invoice the Partnership Treasurer on a period basis for their total expenditure in that period. On receipt of the invoice the Partnership Treasurer will reimburse the participant if there are sufficient funds available. If there are insufficient funds each participant will only be reimbursed on a pro rata basis based on the Operational Case cash flow projections. VAT is recoverable for participants if the service or asset is used exclusively for ‘Crown’ business. In this case each participant, except the Police, will invoice the Partnership Treasurer net of VAT with each individual participant being responsible for its own VAT recovery. The VAT rules governing the Police are different. The Police will continue to invoice inclusive of VAT, with the Partnership Treasurer claiming the VAT recovery. The Partnership Treasurer in conjunction with the Partnership Manager will exercise effective financial monitoring of the Partnership’s income and costs throughout the year to ensure the early detection of any potential deficit position at year-end. Appropriate corrective action will be taken to address a potential deficit and this may include:-
a. postponing the purchase of capital items
b. reducing revenue expenditure In the event of an overspend in any Partner’s budget and cannot be accommodated from within the wider Partnership Budget then the authority concerned will be required to correspondingly re- imburse the Partnership account.
Accounting Arrangements. 14.1 The Parties acknowledge that the costs of the Project may vary substantially from year to year, and agree to meet the actual costs of the Project as they become due.
14.2 The Parties acknowledge that expenditure records for the Project shall be established and kept by one of the Parties (" "the Banker" ") or its nominee, on behalf of the Project.
14.3 Unless varied by contrary agreement, the Coordinating State shall be the Banker.
14.4 The Banker shall:
(a) establish a consolidated set of expenditure records for Shared Project Costs;
(b) draw up individual accounts for each Party on the basis of the cost sharing ratios set out in clause 13;
(c) in consultation with the other Party, draw up a projected cash flow based on the Cash Flow Period; and
(d) report to the Working Group on progress against projected cash flow within four weeks of the conclusion of each Cash Flow Period.
14.5 Unless either Party notifies the Banker in writing that it anticipates that actual expenditure for the Cash Flow Period will have a significant variation from the projected cash flow, the Banker will bill both Parties on the basis of the projected cash flow. For the purpose of this clause a " "significant variation" " is any variation of more than 10% or any variation which is expected to have a duration of more than two cash flow periods.
14.6 Where any amount is due by a Party, after taking into account any credit pursuant to clause 14.9.2 (b), that Party will pay that amount to the Banker before the middle of each Cash Flow Period.
14.7 In the case of a significant variation in the cash flow advised to the Banker and approved by both Parties, the Banker will amend the projected cash flow and the amended projected cash flow will be used as the basis for billing and payments.
14.8 Either Party may call for a reconciliation between actual expenditure and payments. If such reconciliation is called for, the Banker shall carry out the calculations and include any necessary adjustments in the next account to each Party.
14.9 Works Carried Out or Paid for by a Party
14.9.1 Where either Party carries out or pays for work which is a Shared Project Cost the Contracting State will bill the Banker for the full cost of that work.
14.9.2 The Banker will take the value of such work or expenditure into account in issuing individual accounts to the Parties:
(a) as an expenditure which becomes part of the cost of the Project; and
(b) as a credit against the Contracting State's liability wi...
Accounting Arrangements. 15.1 Accounting for Commonwealth environmental water use needs to satisfy a high level of public accountability and provide transparency in how water has been used, including its interaction with planned environmental water and water managed for other objectives. Discharging the CEWH’s statutory obligations for public reporting requires:
a. information to be sufficiently detailed to demonstrate with credible, accurate and reliable information on how environmental water has been used for the specific purpose that the water was made available
b. water delivery to the SA border and water use within the state to be reconcilable, using data or information that is transparent, fit-for-purpose, quality assured and verifiable by third parties
c. the arrangements for accounting, including the methods, processes and principles, to be transparent, accessible to the CEWO and publicly available.
d. processes and methods for environmental water accounting to be reviewed and refined periodically, to ensure best available information and practice can be incorporated. Data underpinning the determination of environmental water is to be made readily available to the CEWO on request, in its entirety, for the purpose of periodic independent evaluation
e. environmental water use to be publicly reported, including final water use accounting among sites and watering actions for each water accounting period. Reporting should be consistent with agreed standards and in a format that is auditable f. while acknowledging the Lower Lakes are a legitimate delivery destination for Commonwealth environmental water, water use in the Lower Lakes will be accounted for across water years, with further detail set out in delivery schedules and/or ultimately the accounting framework developed under 15.2.
15.2 The CEWO and DEW agree to work together, along with other relevant environmental water holders, to progress the development and implementation of a framework for the measurement, accounting and reporting of environmental water, consistent with an agreed workplan.
Accounting Arrangements. 5.1 In determining the pooled budget arrangements the following factors have been considered
(a) Whether the funds are being transferred or not from health to social care
(b) Who is commissioning ng the service associated with the budget
(c) Which organisation is providing the resources to run/manage the service
(d) Who are parties to any associated contracts
(e) Which organisation bears the risk of any overspend
(f) Where any cost savings benefit arise
(g) Which staff are involved
5.2 The appropriate accounting standards will apply in relation to any joint arrangements that are put in place.
5.3 Each of the CCGs and the Local Authority will recognises its share of the pooled budget in it individual accounts and memorandum accounts will be maintained.
Accounting Arrangements. 6.1 Each Partner will create and maintain a clearly identifiable structure within its accounting system to enable effective monitoring and reporting of the Pooled Fund.
6.2 Each Partner will reflect its contribution to the Pooled Fund within its statutory accounts. Additionally the Host Partner will produce a Memorandum of Account that details all income and expenditure for the year of account within the Pooled Fund and any balances held in the Pooled Fund at balance sheet striking date.
6.3 The Host Partner will ensure that the Memorandum of Account is prepared at the conclusion of each financial year in compliance with recommended accounting practice and in accordance with the statutory timetables of each of the Partners.
Accounting Arrangements. 9.1 The Partnership Treasurer shall undertake the financial administration on behalf of the Partnership and shall be responsible for the exercise of proper financial control of the budget in accordance with good public administration accounting practice and its internal financial regulations.
9.2 The Partnership Treasurer may recover a fee (to be agreed by the Executive Board in advance for each year of the Agreement) in consideration of it providing financial administration services on behalf of the Partnership.
9.3 The Partnership Treasurer and the Police shall each maintain a separate account for the Partnership which shall show income/expenditure and capital/revenue separately.
9.4 The Partners shall be entitled to receive full details of the accounts maintained by the Partnership Treasurer and the Police who shall each supply copies of the same to Partners upon request.
Accounting Arrangements. The PCT shall be responsible for the financial administration and accounting arrangements of the Pooled Fund. The PCT shall: maintain financial records in a format that will allow effective monitoring and reporting and completion and audit of performance returns and grant claims; provide information on a monthly basis [to the Council to enable the timely recover of VAT for purchases relating to the Services; and produce a memorandum of account at the end of each financial year for inclusion in the Council’s statutory accounts.
Accounting Arrangements. The Partnership Treasurer shall undertake the financial administration on behalf of the Partnership and shall be responsible for the exercise of proper financial control of the budget in accordance with good public administration accounting practice and its internal financial regulations. The Partnership Treasurer may recover a fee (to be agreed by the Executive Board in advance for each year of the Agreement) in consideration of it providing financial administration services on behalf of the Partnership. The Partnership Treasurer and the Police shall each maintain a separate account for the Partnership which shall show income/expenditure and capital/revenue separately. The Partners shall be entitled to receive full details of the accounts maintained by the Partnership Treasurer and the Police who shall each supply copies of the same to Partners upon request.
Accounting Arrangements. The States acknowledge that procedures satisfactory to both parties will be implemented to ensure that each State meets the agreed share of the final actual cost of the Project. The accounting and audit procedures implemented must satisfy the public accountability and administration requirements of each State for the funding of infrastructure.
