Common use of Annual Financial Accounts Clause in Contracts

Annual Financial Accounts. 15.1 The value of the budget for the Pooled Fund, as described in the Section 75 Agreement, will be material to both Partners; and as such will be subject to appropriate levels of external and internal audit scrutiny. 15.2 The annual financial accounts of both Partners will be required to include sufficiently detailed notes of the financial performance and records of the Integrated Commissioning arrangement:  The structure of reporting to be followed for a “Joint Operation”, such as this Integrated Commissioning arrangement, is prescribed by the International Financial Reporting Standards (IFRS) in IFRS11(Joint arrangements) and IFRS 12 (Disclosure of interests in other entities);  The Statement of Financial Performance of the formal Pooled Fund is to be reported in the Host Partner’s accounts and reflected in the other Partner’s accounts;  The financial performance of Aligned Fund is to be reported within the body of the relevant Partner’s accounts;  The financial performance of the entirety of the Integrated Commissioning Fund; and the associated risk share arrangement, is to be reported as an explanatory note in both Partners’ accounts. 15.3 Planning for accounts preparation and required audit arrangements will take account of:  Timetables for producing the annual accounts, their audit and reporting requirements; recognising the earlier reporting deadlines for NHS accounts. It is acknowledged that Council reporting deadlines are susceptible to change;  The scope of required reporting, including the contribution to the CCG Annual Report; and to the Council Annual Report;  The evidence required to support the annual statement on governance; and for reporting any financial concerns with the Integrated Commissioning Fund;  The evidence required to support the Head of Internal Audit Opinion and the external audit Regularity Opinion. 15.4 The annual financial accounts will be delivered within the requirements of the financial regimes and rules of each Partner, specific to over and underspending:  CCG – Resource Allocation Budgeting impact and treatment of over and underspends – impact carried forward into next year’s allocation;  Council – not allowed to carry forward overspend for the year. Overspending to be met from reserves, but more likely to be addressed through service reviews across the Council during the year.

Annual Financial Accounts. 15.1 The value of the budget for the Pooled Fund, as described in the Section 75 Agreement, will be material to both Partners; and as such will be subject to appropriate levels of external and internal audit scrutiny. 15.2 The annual financial accounts of both Partners will be required to include sufficiently detailed notes of the financial performance and records of the Integrated Commissioning arrangement:  • The structure of reporting to be followed for a “Joint Operation”, such as this Integrated Commissioning arrangement, is prescribed by the International Financial Reporting Standards (IFRS) in IFRS11(Joint arrangements) and IFRS 12 (Disclosure of interests in other entities);  • The Statement of Financial Performance of the formal Pooled Fund is to be reported in the Host Partner’s accounts and reflected in the other Partner’s accounts;  • The financial performance of Aligned Fund is to be reported within the body of the relevant Partner’s accounts;  • The financial performance of the entirety of the Integrated Commissioning Fund; and the associated risk share arrangement, is to be reported as an explanatory note in both Partners’ accounts. 15.3 Planning for accounts preparation and required audit arrangements will take account of:  • Timetables for producing the annual accounts, their audit and reporting requirements; recognising the earlier reporting deadlines for NHS accounts. It is acknowledged that Council reporting deadlines are susceptible to change;  • The scope of required reporting, including the contribution to the CCG Annual Report; and to the Council Annual Report;  • The evidence required to support the annual statement on governance; and for reporting any financial concerns with the Integrated Commissioning Fund;  • The evidence required to support the Head of Internal Audit Opinion and the external audit Regularity Opinion. 15.4 The annual financial accounts will be delivered within the requirements of the financial regimes and rules of each Partner, specific to over and underspending:  • CCG – Resource Allocation Budgeting impact and treatment of over and underspends – impact carried forward into next year’s allocation;  • Council – not allowed to carry forward overspend for the year. Overspending to be met from reserves, but more likely to be addressed through service reviews across the Council during the year.

Annual Financial Accounts. 15.1 6.10.1 The value of the budget for the Pooled Fund, as described in the Section 75 Agreement, Integrated Commissioning Fund will be material significant to both Partners; and as such will be subject to appropriate levels of external and internal audit scrutiny. 15.2 The 6.10.2 When operating as a formal pooled budget arrangement, the annual financial accounts of both Partners will be required to include sufficiently detailed notes of the financial performance and records of the Integrated Commissioning arrangement:  • The structure of reporting to be followed for a “"Joint Operation”", such as this Integrated Commissioning arrangement, is prescribed by the International Financial Reporting Standards (IFRS) in IFRS11(Joint arrangements) and and. IFRS 12 (Disclosure of interests in other entities);  The . • Following the period of 'shadow running' for the pooled Fund, the Statement of Financial Performance of the formal Pooled Fund is to will be reported in the Host Partner’s relevant partner accounts and reflected in the other Partner’s accounts;  most appropriate way in line with agreed proposals. • The financial performance of Aligned Fund Funds and Co-Collaboration funds is to be reported within the body of the relevant Partner’s 's accounts;  . • The financial performance of the entirety of the Integrated Commissioning Fund; and the associated risk share arrangement, is to be reported as an explanatory note in both Partners’ ' accounts. • Due to the annual accounts reporting timetables of both Partners, the risk share may be calculated based on Month 9 - Month 11 forecast position for month 12. Any correction to the value of the risk share will be recognised at the start of the next financial year. 15.3 6.10.3 Planning for accounts preparation and required audit arrangements will take account of:  • Timetables for producing the annual accounts, their audit and reporting requirements; recognising the earlier reporting deadlines for NHS accounts. It This is acknowledged that Council reporting deadlines are susceptible to change;  in the context of the expected integration between NHSE and NHSI. • The scope of required reporting, including the contribution to the CCG Annual ReportICB Quality Account; and to the Council Annual Report;  . • The evidence required to support the annual statement on governance; and for reporting any financial concerns with the Integrated Commissioning Fund;  . • The evidence required to support the Head of Internal Audit Opinion and the external audit Regularity Opinion. 15.4 The annual financial accounts will be delivered within the requirements of the financial regimes and rules of each Partner, specific to over and underspending:  CCG – Resource Allocation Budgeting impact and treatment of over and underspends – impact carried forward into next year’s allocation;  Council – not allowed to carry forward overspend for the year. Overspending to be met from reserves, but more likely to be addressed through service reviews across the Council during the year.

Annual Financial Accounts. 15.1 18.1 The value of the budget for the Pooled Fund, as described in the Section 75 Agreement, will be material to both Partners; and as such will be subject to appropriate levels of external and internal audit scrutiny. 15.2 18.2 The annual financial accounts of both Partners will be required to include sufficiently detailed notes of the financial performance and records of the Integrated Commissioning arrangement:  The structure of reporting to be followed for a “Joint Operation”, such as this Integrated Commissioning arrangement, is prescribed by the International Financial Reporting Standards (IFRS) in IFRS11(Joint arrangements) and IFRS 12 (Disclosure of interests in other entities);  The Statement of Financial Performance of the formal Pooled Fund is to be reported in the Host Partner’s accounts and reflected in the other Partner’s accounts;  The financial performance of Aligned Fund is to be reported within the body of the relevant Partner’s accounts;  The financial performance of the entirety of the Integrated Commissioning Fund; and the associated risk share arrangement, is to be reported as an explanatory note in both Partners’ accounts. 15.3 18.3 Due to the annual accounts reporting timetables of both Partners, the risk share will be calculated on the basis of the month 11 forecast position for month 12. Any correction to the value of the risk share will be recognised at the start of the next financial year. 18.4 Planning for accounts preparation and required audit arrangements will take account of:  Timetables for producing the annual accounts, their audit and reporting requirements; recognising the earlier reporting deadlines for NHS accounts. It is acknowledged that Council reporting deadlines are susceptible to change;  The scope of required reporting, including the contribution to the CCG Annual ReportQuality Account; and to the Council Annual Report;  The evidence required to support the annual statement on governance; and for reporting any financial concerns with the Integrated Commissioning Fund;  The evidence required to support the Head of Internal Audit Opinion and the external audit Regularity Opinion. 15.4 18.5 The annual financial accounts will be delivered within the requirements of the financial regimes and rules of each Partner, specific to over and underspending:  CCG – Resource Allocation Budgeting impact and treatment of over and underspends – impact carried forward into next year’s allocation;  Council – not allowed to carry forward overspend for the year. Overspending to be met from reserves, but more likely to be addressed through service reviews across the Council during the year.

Annual Financial Accounts. 15.1 6.10.1 The value of the budget for the Pooled Fund, as described in the Section 75 Agreement, Integrated Commissioning Fund will be material to both Partners; and as such will be subject to appropriate levels of external and internal audit scrutiny. 15.2 The 6.10.2 When operating as a formal pooled budget arrangement, the annual financial accounts of both Partners will be required to include sufficiently detailed notes of the financial performance and records of the Integrated Commissioning arrangement:  The structure of reporting to be followed for a “"Joint Operation”", such as this Integrated Commissioning arrangement, is prescribed by the International Financial Reporting Standards (IFRS) in IFRS11(Joint arrangements) and IFRS 12 (Disclosure of interests in other entities);  The Following the period of ‘shadow running’ for the pooled Fund, the Statement of Financial Performance of the formal Pooled Fund is to will be reported in the Host Partner’s relevant partner accounts and reflected in the other Partner’s accounts; most appropriate way in line with agreed proposals.  The financial performance of Aligned Fund Funds and Co-Collaboration funds is to be reported within the body of the relevant Partner’s 's accounts; .  The financial performance of the entirety of the Integrated Commissioning Fund; and the associated risk share arrangement, is to be reported as an explanatory note in both Partners’ ' accounts.  Due to the annual accounts reporting timetables of both Partners, the risk share may be calculated based on Month 9 – Month 11 forecast position for month 12. Any correction to the value of the risk share will be recognised at the start of the next financial year. 15.3 6.10.3 Planning for accounts preparation and required audit arrangements will take account of:  Timetables for producing the annual accounts, their audit and reporting requirements; recognising the earlier reporting deadlines for NHS accounts. It This is acknowledged that Council reporting deadlines are susceptible to change; in the context of the expected integration between NHSE and NHSI.  The scope of required reporting, including the contribution to the CCG Annual ReportQuality Account; and to the Council Annual Report; .  The evidence required to support the annual statement on governance; and for reporting any financial concerns with the Integrated Commissioning Fund; .  The evidence required to support the Head of Internal Audit Opinion and the external audit Regularity Opinion. 15.4 The annual financial accounts will be delivered within the requirements of the financial regimes and rules of each Partner, specific to over and underspending:  CCG – Resource Allocation Budgeting impact and treatment of over and underspends – impact carried forward into next year’s allocation;  Council – not allowed to carry forward overspend for the year. Overspending to be met from reserves, but more likely to be addressed through service reviews across the Council during the year.