Purpose

To agree a Revenue Refunds, Credit Balances and Write-Back Policy.

Decision

The Executive Resolved

That (i)   the Revenue Refunds, Credit Balances and Write-Back Policy be approved;

        (ii)  the Head of Resident Experience, with the agreement of the Strategic Director – Finance and Resources, be authorised to make minor administrative or operational amendments to the Policy arising from legislative, regulatory, audit or procedural changes, provided that such amendments do not materially alter the intent of the Policy; and

        (iii)  the Policy be reviewed annually by the Head of Resident Experience, in consultation with the Strategic Director – Finance and Resources, and any amendment which would materially alter the Policy, including the basis upon which refunds, credit balances or write-backs are determined or authorised, be referred to the Executive for approval.

Reason:  The policy will provide a clear and consistent framework for managing revenue refunds, credit balances and write-backs, strengthen financial governance and internal controls, reduce the risk of fraud, error and inconsistent decision-making, ensure refund and write-back decisions are appropriately evidenced and auditable, clarify the correct treatment of insolvency and dissolved company cases, and support compliance with financial regulations, legal requirements and audit expectations.