Haringey Council to Update Financial Regulations for Clarity and Accountability

Haringey Council is set to update its financial regulations to improve clarity and accountability in financial control and budget management, especially given the council's current financial challenges.

The Standards Committee met on 13 November 2025, to discuss proposed changes to the Financial Regulations, Part Four Section I of the council's constitution. The last substantive update was in March 2021, although minor administrative amendments were made in May 2023.

According to the Public reports pack 13th-Nov-2025 Standards Committee, the proposed changes are needed to ensure that the Financial Regulations are up to date, easily understandable, and concise, and that accountability for financial control and budget management is clear. The report pack notes that in the light of the Council's current exceptionally challenging financial position, it is vital that Financial Regulations are up to date, easily understandable, concise and accountability for financial control and budget management is clear.

The report pack noted that the current version does not include a requirement for budget holders to remain within budget or for Corporate Directors to notify the Section 151 Officer of all underspends, over-recovery of income or windfall benefits arising within their revenue and capital budgets. The report pack also states that Although some of the changes are necessary tidying up, such as job titles, there are some other key sections of the regulations specifically around strengthening accountability for budget managers, that are necessary.

Specifically, Corporate Directors are required to notify the Section 151 Officer of all underspends, over-recovery of income or windfall benefits. According to the Public reports pack 13th-Nov-2025 Standards Committee, these funds should, in the first instance, be transferred to the contingency budget unless regulations specify restrictions on their use, or the funds are to be used to offset uncontrollable overspends elsewhere within the service. The Corporate Director is responsible for notifying the Section 151 Officer that this is to occur, and approval to these budget variations will be in line with the scheme of virement.