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Policy

 

Section 12 – Recording of assets

Work is ongoing to bring the various records together in an effort to develop a comprehensive and validated Asset Register for the Highland Council’s Common Good Funds. The Asset Register has been compiled from records where there is demonstrable evidence to support that the title of each item belongs to the Common Good.

 

Section 13 – The process for acquisition and disposal of non-moveable assets; and reporting and monitoring arrangements

All acquisition and disposals of Common Good non-moveable assets should be reported to Council.

The Inverness Common Good Fund is administered by the Inverness City Committee. In respect of the Inverness Common Good Fund, monitoring and reporting arrangements take the form of Budget reports which are provided to, and reviewed by, the Inverness City Committee (ICC) on a regular basis. The monthly budgetary monitoring reports, which notes spend to date compared against budget, are prepared by the Finance Service via the Inverness City Manager. The Budget reports are presented to the ICC for approval.

Outwith Inverness, Corporate Managers receive Detailed Transaction Reports (DTR) for each Common Good Fund pertaining to their area. The DTR report details the monthly spend in respect of the relevant Common Good Fund. In addition, Ward Managers receive Common Good Fund DTR reports at the end of each monthly reporting period. Outwith Inverness, year end audited accounts for each Common Good Fund are provided to the relevant Ward Manager for presentation to the Members at the next available Ward Business Meeting.

 

Section 14 – Maintenance of the Common Good Asset Register/ Records

Rental/lease income, which is derived from Common Good Fund investment properties is monitored and administered by Housing and Property Service.

 

Section 15 – Roles and responsibilities for Members and Officers

All 80 Elected Members of The Highland Council are “trustees for Common Good Funds and Associated Funds in relation to determining and delivering investment policy, including the purchase and disposal of trust assets, subject to the administration of these funds being delegated to Inverness City Committee or to officers” in terms of the Council’s Scheme of Delegation.

The Council has delegated authority to Inverness City Committee ‘to administer Local Authority Trusts, Inverness Common Good Fund and the management of property assets, including the Town House and Victorian Market’.

The Council’s Scheme of Delegation further states that delegated power be given to Corporate Managers "to administer local authority trusts and Common Good Funds specific to the operational management area up to a maximum of £10,000 per application following consultation with relevant Ward Members and where not otherwise dealt with by Inverness City”.

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