Decision details

The Director of Resources submitted a report to recommend to Council the acceptance of the reviewed financial regulations and contract procedure rules and the associated changes necessary to the Corporate Debt Write Off Policy.

Members were advised that the key changes are:

· Changes to the procurement processes in respect of numbers of quotes and tendering limits

· Clarifying the insurance levels that should be sought from suppliers when asking for quotations or procuring through tender and offering guidance on additional levels of insurance or cover types that may be relevant depending on the works, goods or services being procured and the potential risks involved.

· Increasing the level of debt write off that needs committee approval from over £1,000 to over £5,000.

The revised Contact Procedure Rules were annexed to the report and Members were informed that the main changes reflect the changes in respect of quote and tender requirements and clarity on insurance levels. 

***RESOLVED THAT COMMITTEE:

Recommend to Full Council acceptance of the reviewed Financial Regulations and revised Contract Procedure Rules, together with the associated changes to the Corporate Debt Write Off Policy.