Accounts

Regulation 34 makes provision in relation to the keeping of accounts. The regulation requires that accounts are prepared and published in line with other local authority accounting practices, showing the net proceeds of a WPL scheme and how they have been applied.

Specifically, the local authority must keep adequate accounting records for the scheme showing for each financial year how the net proceeds of the scheme have been calculated, how the net proceeds of the scheme have been applied, and the value of the net proceeds of the scheme unspent at each financial year end. Local authorities must prepare, in respect of each financial year, a statement of account based on these accounting records in such form as is required by proper accounting practices, and publish the statement of account, in such manner as is required by proper accounting practices, in the annual accounts of the authority for the financial year.

If a scheme is operated by two or more local authorities acting jointly, the local authorities must also keep adequate accounting records showing each authority’s share of net proceeds of the scheme, and how the gross and net revenue of each authority’s share of the net proceeds of the scheme is calculated in accordance with the apportionment of any monies received from licence charges and penalty charges.

For the purposes of these regulations, “adequate accounting records” has the meaning given in regulation 6 of the Local Authority Accounts (Scotland) Regulations 2014, “proper accounting practices” has the meaning given in section 12 of the Local Government in Scotland Act 2003.