Common use of Finance Arrangements Clause in Contracts

Finance Arrangements. ‌ The general principles are agreed as: • The Council and NHS Highland recognise that they each have continuing financial governance responsibilities, and have agreed to establish the IJB as a “joint operation” as defined by IFRS 11. • The Council and NHS Highland will work together in the spirit of partnership, openness and transparency. • The Council and NHS Highland payments to the IJB derive from a process that recognises that both organisations have expenditure commitments that cannot be avoided in the short to medium term. The Council and NHS Highland will prepare and maintain a record of what those commitments are and provide this to the IJB. • The IJB will monitor its financial position and make arrangements for the provision of regular, timely, reliable and relevant information on its financial position which will be shared with the Council and NHS Highland. The IJB, the Council and NHS Highland will share financial information to ensure all parties have a full understanding of their current financial information and future financial challenges and funding streams. • The existing financial regulations of the Council and NHS Highland will apply to resources transferred to the IJB. And

Finance Arrangements. ‌ The general principles are agreed as: • The Council and NHS Highland recognise that they each have continuing financial governance responsibilities, and have agreed to establish the IJB as a “joint operation” as defined by IFRS 11. • The Council and NHS Highland will work together in the spirit of partnership, openness and transparency. • The Council and NHS Highland payments to the IJB derive from a process that recognises that both organisations have expenditure commitments that cannot be avoided in the short to medium term. The Council and NHS Highland will prepare and maintain a record of what those commitments are and provide this to the IJB. • The IJB will monitor its financial position and make arrangements for the provision of regular, timely, reliable and relevant information on its financial position which will be shared with the Council and NHS Highland. The IJB, the Council and NHS Highland will share financial information to ensure all parties have a full understanding of their current financial information and future financial challenges and funding streams. • The existing financial regulations of the Council and NHS Highland will apply to resources transferred to the IJB. And