12.1 Any application for Government approval to borrow money and subsequent arrangements for a loan must be authorised by Full Council and recorded in the minutes. All borrowing shall be in the name of the Council, after obtaining any necessary approval.

12.2 Any financial arrangement which does not require formal borrowing approval from the Secretary of State (such as Hire Purchase, Leasing of tangible assets or loans to be repaid within the financial year) must be authorised by Full Council, following a written report on the value for money of the proposed transaction.

12.3 The Council shall consider the requirement for an Investment Strategy and Policy in accordance with Statutory Guidance on Local Government Investments, which must written be in accordance with relevant regulations, proper practices and guidance. Any Strategy and Policy shall be reviewed by the Finance & General Purposes Committee at least annually and agreed by Full Council.

12.4 All investment of money under the control of the Council shall be in the name of the Council.

12.5 All investment certificates and other documents relating thereto shall be retained in the custody of the RFO.

12.6 Payments in respect of short term or long-term investments, including transfers between bank accounts held in the same bank, shall be made in accordance with these regulations.

13.1 The collection of all sums due to the Council shall be the responsibility of and under the supervision of the RFO.

13.2 The Council will review all fees and charges for work done, services provided, or goods sold at least annually as part of the budget-setting process, informed by reports of the relevant officer. The RFO shall be responsible for the collection of all amounts due to the Council.

13.3 Any sums found to be irrecoverable and any bad debts shall be reported to Full Council by the RFO and shall be written off in the year. The Council's approval shall be shown in the accounting records.

13.4 All sums received on behalf of the Council shall be deposited intact with the Council's bankers, with such frequency as the RFO considers necessary. The origin of each receipt shall clearly be recorded on the paying-in slip or other record.

13.5 Personal cheques shall not be cashed out of money held on behalf of the Council.

13.6 The RFO shall ensure that VAT is correctly recorded in the Council's accounting software and that any VAT Return required is submitted from the software by the date.