Policy formulation Approval of significant corporate policies (that is, those which CE have a material impact on LEP staff) Budget setting Approval of annual LEP budget LEP Board, as recommended by F&A Committee Approval of virement of funds between budget headings CE up to £100k from remuneration to consultancy, but only £25k into remuneration/ recruitment Ensure that all relevant financial updates are brought to the DCEO attention of the Finance & Audit Committee Recruitment and staffing Authority to appoint additional posts (interim, secondments, CE permanent) in line with Business Plan Authority to terminate employment, in line with company CE/ Chair policy Authority to appoint/ terminate Chief Executive post, in line LEP Board with company policy Vary staff pay and conditions Appointment & Remuneration Committee, as recommended by CE Review and change, agree main features of terms and F&A Committee, as recommended conditions of employment by CE Approval of early retirement/Severance A&R Committee, as recommended by CE <£50,000 A&R Committee, as recommended by CE & F&A if >£50,000. Accounting, Auditing and Banking Approval of Annual Accounts LEP Board, as recommended by F&A Committee Appointment of Auditors F&A Committee Systems of internal financial management and control and F&A Committee, as recommended accountability, including risk management and financial by DCEO procedures Appointment of Accountants F&A Committee, as recommended by DCEO Appointment of Bank, opening bank accounts and F&A Committee, as recommended designation of bank signatories by DCEO Pre - Approval of credit card spend up above £500 DCEO Authorisation of payment of salaries DCEO, payments set up by Voisey & Co The maintenance of records, the security and regular DCEO reconciliation of petty cash To monitor the regulations on VAT, ensuring compliance DCEO To complete and submit the reimbursement claim for VAT on DCEO a [TIME] basis.
Policy formulation Approval of significant corporate policies (that is, those which have a material impact on LEP staff) CE Budget setting Approval of annual LEP budget LEP Board, as recommended by F&A Committee Approval of virement of funds between budget headings CE up to £100k from remuneration to consultancy, but only £25k into remuneration/ recruitment Ensure that all relevant financial updates are brought to the attention of the Finance & Audit Committee DCEO Recruitment and staffing Authority to appoint additional posts (interim, secondments, permanent) in line with Business Plan CE Authority to terminate employment, in line with company policy CE/ Chair Authority to appoint/ terminate Chief Executive post, in line with company policy LEP Board Vary staff pay and conditions Appointment & Remuneration Committee, as recommended by CE Review and change, agree main features of terms and conditions of employment F&A Committee, as recommended by CE Approval of early retirement/Severance A&R Committee, as recommended by CE <£50,000 A&R Committee, as recommended by CE & F&A if >£50,000. Accounting, Auditing and Banking Approval of Annual Accounts LEP Board, as recommended by F&A Committee Appointment of Auditors F&A Committee Systems of internal financial management and control and accountability, including risk management and financial procedures F&A Committee, as recommended by DCEO Appointment of Accountants F&A Committee, as recommended by DCEO Appointment of Bank, opening bank accounts and designation of bank signatories F&A Committee, as recommended by DCEO Pre - Approval of credit card spend up above £500 DCEO Authorisation of payment of salaries DCEO, payments set up by Voisey & Co The maintenance of records, the security and regular reconciliation of petty cash DCEO To monitor the regulations on VAT, ensuring compliance DCEO To complete and submit the reimbursement claim for VAT on a [TIME] basis. DCEO
18.01.25-LEPAccountabilityFramework-V4.docx