Issue - meetings

Council Banking Arrangements

Meeting: 28/01/2015 - Audit Committee (Item 52)

52 Council Banking Arrangements pdf icon PDF 32 KB


That the report be noted.


The Corporate Finance Manager introduced an update on the award of the contract to provide the Council’s banking arrangements, following the expiry of the previous contract with Nat West in May 2014.  Due to delays in the tendering exercise carried out by Eastern Shires Purchasing Organisation (ESPO), it had been agreed that services with Nat West would continue on a monthly rolling basis until the new contract could be put in place.


The Finance Manager - Technical Accountancy gave an overview of the tendering process conducted through the ESPO framework, as detailed in the report, which had resulted in two banks opting out of the process.  Following thorough evaluation, the contract had been awarded to Nat West with the inclusion of key elements, offering the Council a more efficient and modern bank service at reduced costs.


Councillor Glyn Banks thanked the officers for the report and successful conclusion, and in particular the agreement to a partnership arrangement with the Post Office network.




That the report be noted.