This document, identified as Annex A of the financial arrangements for new institutions' paper, dated 16 June 1992, outlines potential financial arrangements for a new local administration in Northern Ireland, assuming it would have broad authority over areas such as industry and agriculture. It proposes that funding would continue on the current basis, with the Secretary of State responsible for securing resources from Central Government and deciding on their allocation between his responsibilities and those of the new administration. The local administration would have significant discretion in allocating its resources, though it would be constrained by UK commitments to the European Community and the need to ensure value for money. The Comptroller and Auditor General for Northern Ireland would continue to oversee the propriety and regularity of expenditures, reporting to a committee established by the local administration.
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