3 Payment of expenses - TMO receives allowances from the counciland pays its own expenses 3B 4 TMO's banking arrangements - TMO maintains bank accounts as it sees fit 4B 5 Financial control and accounting standards Link to financial procedures set out in schedule. TMO must provide Council with budget, Standard – quarterly revenue report and annual accounts 6 Financial year Runs from April to March Standard – 7 Restriction on investments TMO must be able to access its with maximum 3 months notice Standard – 8 Reserve Funds - TMO must maintain a reserve fund 8B 9 Major works account Not applicable 9A 10 Financial report & surplus - TMO provides reports and creates surplus fund 10B 11 to the TMO Council can provide the TMO with a loan or must gove written reasons for a refusal Standard – 12 Interest of payments - Either party can charge interest on late payments 12B 13 Set off payments- Either can deduct money owed from payments due 13B Chapter 6 Tenancy management RPRMC 1 Information to applicants and new tenants Council must provide information about the TMO Link to procedure for TMO introductory Standard – meetings with new tenants 2 Consultation between TMO and Council Council must consult TMO before altering its allocation scheme and must consider TMO’s Standard – proposals 3 Selection of tenants lettings policy for transfers (downsizing tenants), Council selects tenants for all other allocations 3D –Local 4 Transfers - TMO administers transfer applications 4B
3 Payment of expenses - TMO receives allowances from the counciland pays its own expenses 3B 4 TMO's banking arrangements - TMO maintains bank accounts as it sees fit 4B 5 Financial control and accounting standards – Link to financial procedures set out in schedule. TMO must provide Council with budget, quarterly revenue report and annual accounts Standard 6 Financial year – Runs from April to March Standard 7 Restriction on investments – TMO must be able to access its with maximum 3 months notice Standard 8 Reserve Funds - TMO must maintain a reserve fund 8B 9 Major works account Not applicable 9A 10 Financial report & surplus - TMO provides reports and creates surplus fund 10B 11 to the TMO – Council can provide the TMO with a loan or must gove written reasons for a refusal Standard 12 Interest of payments - Either party can charge interest on late payments 12B 13 Set off payments- Either can deduct money owed from payments due 13B Chapter 6 Tenancy management RPRMC 1 Information to applicants and new tenants – Council must provide information about the TMO Link to procedure for TMO introductory meetings with new tenants Standard 2 Consultation between TMO and Council – Council must consult TMO before altering its allocation scheme and must consider TMO’s proposals Standard 3 Selection of tenants –Local lettings policy for transfers (downsizing tenants), Council selects tenants for all other allocations 3D 4 Transfers - TMO administers transfer applications 4B