Common use of Managing Public Money Clause in Contracts

Managing Public Money. As Accounting Officer, the Head of Secretariat shall exercise the following responsibilities in particular: • together with the Board of Commissioners, ensure that ICAI functions in accordance with this Framework Agreement, its annexes and any agreed amendments to these; • ensure ICAI’s annual forward budget proposal is prepared in accordance with section 4.3; • ensure that timely forecasts and monitoring information on finance and governance performance are provided to DFID; that DFID is notified promptly if over- or underspends are likely and that corrective action is agreed and taken, including any adjustments required to DFID’s Main or Supplementary Estimates; and that any significant problems, whether financial or otherwise, and whether detected by internal audit or by other means, are notified to DFID in a timely fashion; • advise Commissioners and ICAI staff on the discharge of their responsibilities as set out in this document and in any other relevant instructions and guidance that may be issued from time to time; • advise Commissioners on ICAI’s performance compared with its aims and objectives; • ensure that financial considerations are taken fully into account by Commissioners at all stages in reaching and executing its decisions, and that standard financial appraisal techniques are followed as far as this is practical; • take action, as set out in Managing Public Money, if ICAI, or the Chief Commissioner, is contemplating a course of action involving a transaction which the Delegated Accounting Officer considers would infringe the requirements of propriety or regularity or does not represent prudent or economical administration or efficiency or effectiveness, is of questionable feasibility, or is unethical; • maintain a comprehensive system of internal delegated authorities which are notified to staff, together with a system for regularly reviewing compliance with these delegations; • ensure that effective personnel management policies are maintained; • ensure that a system of risk management is maintained to inform decisions on financial and operational planning and to assist in achieving objectives and targets; • ensure that an effective system of programme and project management and contract management is maintained; • ensure that all public funds made available to ICAI including any approved income or receipts are used for the purpose intended by Parliament, and that such monies together with ICAI’s assets, equipment and staff, are used economically, efficiently and effectively; • ensure that adequate internal management and financial controls are maintained by ICAI, including effective measures against fraud and theft;

Managing Public Money. As Accounting Officer, the Head of Secretariat shall exercise the following responsibilities in particular4.1 14.5. The Chair also has an obligation to ensure that: • together The Non-Executives are appointed and understand their roles and responsibilities; • The responsible minister is advised of ARIA’s needs when Board vacancies arise; • There is a Board Operating Framework in place, setting out the role and responsibilities of the Board consistent with the Board Government Code of Commissioners, ensure that ICAI functions in accordance with this Framework Agreement, its annexes and any agreed amendments to theseGood Practice for Corporate Governance; • ensure ICAIThere is a code of practice for Board members in place, consistent with the Cabinet Office’s annual forward budget proposal is prepared in accordance with section 4.3Code of Conduct for Board Members of Public Bodies; • ensure that timely forecasts There are appropriate and monitoring information on finance regular communication channels to DSIT’s responsible Ministers and governance performance are provided to DFID; that DFID is notified promptly if over- or underspends are likely Permanent Secretary, and that corrective action is agreed the Minister and taken, including any adjustments required Permanent Secretary have the information they need to DFIDdischarge their responsibilities to ARIA; • ARIA has a robust conflict of interest policy; • Any significant breaches of the Board’s Main or Supplementary Estimates; and that any significant problems, whether financial or otherwise, and whether detected by internal audit or by other means, are notified to DFID Chief Executive’s responsibilities be dealt with in a timely fashionand proportionate manner; • advise Commissioners The work of the Board and ICAI staff its members are reviewed, including ongoing assessment of the performance of individual Board members with a formal annual evaluation and more in-depth assessments of the performance of individual Board members when being considered for re-appointment. 14.6. The performance of the Chair is evaluated annually by the Director General for Science, Innovation and Growth, in consultation with the independent Non-Executives, taking into account the views of relevant stakeholders. The outcome of that evaluation should be made available to the Secretary of State. 15. Individual Board members’ responsibilities 15.1. Individual Board members should: • Comply at all times with the Code of Conduct for Board Members of Public Bodies, which includes the Xxxxx Principles of Public Life as well as rules relating to the use of public funds and to conflict of interest;7 • Demonstrate adherence to the 12 Principles of Governance for all Public Body Non-Executive Directors8 as appropriate; • Not misuse information gained in the course of their public service for personal gain or for political profit, not seek to use the opportunity of public service to promote private interests or those of connected persons or organisations; • Comply with the Board’s rules on the discharge acceptance of their responsibilities as set out gifts and hospitality, and business appointments; • Act in this document good faith and in the best interests of ARIA; • Ensure they are familiar with any other relevant instructions applicable guidance on the role of the public sector Non-Executive Directors and guidance Boards that may be issued from time to time; • advise Commissioners on ICAIby Cabinet Office, HM Treasury or wider government. 7 Code of conduct for board members of public bodies 8 12 Principles of Governance for all Public Body NEDs Management and Financial Responsibilities and Controls 16. Business cases and spend control 16.1. XXXX is following a single business case approach, whereby for the duration of XXXX’s performance compared multi-year settlement announced at the 2020 Spending Review, only one business case for ARIA must be cleared with its aims and objectives; • ensure that financial considerations are taken fully into account by Commissioners at all stages in reaching and executing its decisionsHM Treasury, and that standard ARIA does not need to clear additional business cases with either DSIT or HM Treasury. 16.2. XXXX’s financial appraisal techniques freedoms and delegated authorities are followed as far as this is practical; • take action, as set out in Managing Public Moneythe delegation letter. This delegation letter may be updated and superseded by later versions which may be issued by DSIT in agreement with HM Treasury. In line with MPM Annex 2.2, if ICAIthese delegations will be reviewed on an annual basis. 16.3. ARIA must seek DSIT and, where appropriate, HM Treasury’s, prior approval before undertaking to incur any expenditure that: falls outside the delegations or the Chief Commissionerwhich is not provided for in ARIA’s annual budget; or might be considered novel, is contemplating a course of action involving a transaction which the Delegated Accounting Officer considers would infringe the requirements of propriety contentious or regularity or does not represent prudent or economical administration or efficiency or effectiveness, is of questionable feasibility, repercussive; or is unethical; • maintain otherwise contrary to MPM. 16.4. It should be noted that XXXX’s objective is to pursue high-risk, long-term R&D and is therefore expected to have a comprehensive system of internal delegated authorities which are notified to staffsignificant risk appetite. Investing in novel or contentious research should therefore not constitute novel, together with a system contentious or repercussive spending for regularly reviewing compliance with these delegations; • ensure that effective personnel management policies are maintained; • ensure that a system of risk management is maintained to inform decisions on financial ARIA. 17. Banking and operational planning and to assist managing cash 17.1. ARIA should only hold money in achieving objectives and targets; • ensure that an effective system of programme and project management and contract management is maintained; • ensure that all public funds made available to ICAI including any approved income or receipts are used for the purpose intended by Parliament, and that such monies together with ICAI’s assets, equipment and staff, are used economically, efficiently and effectively; • ensure that adequate internal management and financial controls are maintained by ICAI, including effective measures against fraud and theft;Government Banking Service accounts.

Managing Public Money. As Accounting Officer, the Head of Secretariat shall exercise the following responsibilities in particular4.1 14.5. The Chair also has an obligation to ensure that: • together The Non-Executives are appointed and understand their roles and responsibilities; • The responsible minister is advised of ARIA’s needs when Board vacancies arise; • There is a Board Operating Framework in place, setting out the role and responsibilities of the Board consistent with the Board Government Code of Commissioners, ensure that ICAI functions in accordance with this Framework Agreement, its annexes and any agreed amendments to theseGood Practice for Corporate Governance; • ensure ICAIThere is a code of practice for Board members in place, consistent with the Cabinet Office’s annual forward budget proposal is prepared in accordance with section 4.3Code of Conduct for Board Members of Public Bodies; • ensure that timely forecasts There are appropriate and monitoring information on finance regular communication channels to DSIT’s responsible Ministers and governance performance are provided to DFID; that DFID is notified promptly if over- or underspends are likely Permanent Secretary, and that corrective action is agreed the Minister and taken, including any adjustments required Permanent Secretary have the information they need to DFIDdischarge their responsibilities to ARIA; • ARIA has a robust conflict of interest policy; • Any significant breaches of the Board’s Main or Supplementary Estimates; and that any significant problems, whether financial or otherwise, and whether detected by internal audit or by other means, are notified to DFID Chief Executive’s responsibilities be dealt with in a timely fashionand proportionate manner; • advise Commissioners The work of the Board and ICAI staff its members are reviewed, including ongoing assessment of the performance of individual Board members with a formal annual evaluation and more in-depth assessments of the performance of individual Board members when being considered for re-appointment. 14.6. The performance of the Chair is evaluated annually by the Director General for Science, Innovation and Growth, in consultation with the independent Non-Executives, taking into account the views of relevant stakeholders. The outcome of that evaluation should be made available to the Secretary of State. 15. Individual Board members’ responsibilities 15.1. Individual Board members should: • Comply at all times with the Code of Conduct for Board Members of Public Bodies, which includes the Xxxxx Principles of Public Life as well as rules relating to the use of public funds and to conflict of interest;7 • Demonstrate adherence to the 12 Principles of Governance for all Public Body Non-Executive Directors8 as appropriate; • Not misuse information gained in the course of their public service for personal gain or for political profit, not seek to use the opportunity of public service to promote private interests or those of connected persons or organisations; • Comply with the Board’s rules on the discharge acceptance of their responsibilities as set out gifts and hospitality, and business appointments; • Act in this document good faith and in the best interests of ARIA; • Ensure they are familiar with any other relevant instructions applicable guidance on the role of the public sector Non-Executive Directors and guidance Boards that may be issued from time to time; • advise Commissioners on ICAIby Cabinet Office, HM Treasury or wider government. 7 Code of conduct for board members of public bodies 8 12 Principles of Governance for all Public Body NEDs 16. Business cases and spend control 16.1. XXXX is following a single business case approach, whereby for the duration of XXXX’s performance compared multi-year settlement announced at the 2020 Spending Review, only one business case for ARIA must be cleared with its aims and objectives; • ensure that financial considerations are taken fully into account by Commissioners at all stages in reaching and executing its decisionsHM Treasury, and that standard ARIA does not need to clear additional business cases with either DSIT or HM Treasury. 16.2. XXXX’s financial appraisal techniques freedoms and delegated authorities are followed as far as this is practical; • take action, as set out in Managing Public Moneythe delegation letter. This delegation letter may be updated and superseded by later versions which may be issued by DSIT in agreement with HM Treasury. In line with MPM Annex 2.2, if ICAIthese delegations will be reviewed on an annual basis. 16.3. ARIA must seek DSIT and, where appropriate, HM Treasury’s, prior approval before undertaking to incur any expenditure that: falls outside the delegations or the Chief Commissionerwhich is not provided for in ARIA’s annual budget; or might be considered novel, is contemplating a course of action involving a transaction which the Delegated Accounting Officer considers would infringe the requirements of propriety contentious or regularity or does not represent prudent or economical administration or efficiency or effectiveness, is of questionable feasibility, repercussive; or is unethical; • maintain otherwise contrary to MPM.‌‌ 16.4. It should be noted that XXXX’s objective is to pursue high-risk, long-term R&D and is therefore expected to have a comprehensive system of internal delegated authorities which are notified to staffsignificant risk appetite. Investing in novel or contentious research should therefore not constitute novel, together with a system contentious or repercussive spending for regularly reviewing compliance with these delegations; • ensure that effective personnel management policies are maintained; • ensure that a system of risk management is maintained to inform decisions on financial ARIA. 17. Banking and operational planning and to assist managing cash 17.1. ARIA should only hold money in achieving objectives and targets; • ensure that an effective system of programme and project management and contract management is maintained; • ensure that all public funds made available to ICAI including any approved income or receipts are used for the purpose intended by Parliament, and that such monies together with ICAI’s assets, equipment and staff, are used economically, efficiently and effectively; • ensure that adequate internal management and financial controls are maintained by ICAI, including effective measures against fraud and theft;Government Banking Service accounts.