1 INTRODUCTION 1.1 The Code of Financial Procedures set out the basic standards for financial management and financial control to be followed within the Trust. The Code should be read in conjunction with Standing Orders, Standing Financial Instructions, Reservation of Powers and detailed scheme of delegation, all other official policies and procedures issued by the Trust and the principles of ‘7 public life’ published on the website. 2. PURPOSE 2.1 The Code of financial procedures provides a more detailed guide for managers on the financial processes to be followed within the Trust. 3. SCOPE 3.1 All managers and staff working directly or indirectly for the Trust must comply with the provisions of this code. 3.2 the event of an infection outbreak, flu pandemic or major incident, the Trust recognises that ‘In it may not be possible to adhere to all aspects of this document. In such circumstances, staff should take advice from their manager and all possible action must be taken to maintain ongoing patient and staff safety’ 4. DEFINITIONS 4.1 In this Code the word means the section of the Code is mandatory and all staff are “must” expected to comply with that part of the Code. Failure to comply with the mandatory parts of this Code could result in the dismissal of the staff involved. The word means that it is “should” considered to be best practice and the staff should aim to comply with the provision if at all possible. Board” means the executive and non-executive Directors of the Trust. means any person employed by the Trust on either a temporary or permanent basis. “Employee” Under some circumstances it includes contractors of the Trust. or Manager” means any member of staff who is responsible for either one or “Manager” “Budget more budgets or one or more other members of staff. means the anticipated income and/or expenditure attributable to one or a group of “Budget” accounting cost centres. Fund” or held on Trust” mean those funds which the Trust holds on the date “Charitable “Funds of incorporation, receives on distribution by statutory instrument or chooses subsequently to accept under powers derived under S.90 of the NHS Act 1977, as amended. Adviser” means the person or company appointed by the Trust to provide it with Legal “Legal advice or carry out Legal functions on behalf of the Trust. means the Portsmouth Hospitals NHS Trust. “Trust” means the chief officer of the Trust. Executive” “Chief
1 INTRODUCTION 1.1 The Code of Financial Procedures set out the basic standards for financial management and financial control to be followed within the Trust. The Code should be read in conjunction with Standing Orders, Standing Financial Instructions, Reservation of Powers and detailed scheme of delegation, all other official policies and procedures issued by the Trust and the ‘7 principles of public life’ published on the website. 2. PURPOSE 2.1 The Code of financial procedures provides a more detailed guide for managers on the financial processes to be followed within the Trust. 3. SCOPE 3.1 All managers and staff working directly or indirectly for the Trust must comply with the provisions of this code. 3.2 ‘In the event of an infection outbreak, flu pandemic or major incident, the Trust recognises that it may not be possible to adhere to all aspects of this document. In such circumstances, staff should take advice from their manager and all possible action must be taken to maintain ongoing patient and staff safety’ 4. DEFINITIONS 4.1 In this Code the word “must” means the section of the Code is mandatory and all staff are expected to comply with that part of the Code. Failure to comply with the mandatory parts of this Code could result in the dismissal of the staff involved. The word “should” means that it is considered to be best practice and the staff should aim to comply with the provision if at all possible. Board” means the executive and non-executive Directors of the Trust. “Employee” means any person employed by the Trust on either a temporary or permanent basis. Under some circumstances it includes contractors of the Trust. “Manager” or “Budget Manager” means any member of staff who is responsible for either one or more budgets or one or more other members of staff. “Budget” means the anticipated income and/or expenditure attributable to one or a group of accounting cost centres. “Charitable Fund” or “Funds held on Trust” mean those funds which the Trust holds on the date of incorporation, receives on distribution by statutory instrument or chooses subsequently to accept under powers derived under S.90 of the NHS Act 1977, as amended. “Legal Adviser” means the person or company appointed by the Trust to provide it with Legal advice or carry out Legal functions on behalf of the Trust. “Trust” means the Portsmouth Hospitals NHS Trust. “Chief Executive” means the chief officer of the Trust.
Code%20of%20Financial%20Procedures.docx