Decision details

Date of Decision:

30 September 2022

Title:

Faster Payments October 2022 – March 2023

Decision Maker:

(Including Job Title)

Judith Badger

Strategic Director of Finance & Customer Services

Details of Specific Cabinet Delegation

or Delegation contained in the relevant Sub-Scheme of Delegation.

General Delegation in relation to the proper handling of the Council’s financial arrangements.

Decision:

To continue with measures previously approved in relation to the immediate payment of invoices (including receipting, dealing with disputes and increased invoice frequency etc) to the end of March 2023.

Reasons for the Decision:

Faster payments were introduced to support supply chains through the Covid-19 pandemic which has now started to settle, however the market has not recovered or returned to life pre-pandemic due to a range of other unforeseen circumstances.  The market is now facing significant financial pressures resulting from the significant rise in inflation.  it is essential that the Council continues to pay suppliers in as timely as manner as possible to help maintain their cashflow, which will help protect supply chain relationships and ultimately protect jobs.

Details of alternative options considered and rejected:

The accompanying briefing paper sets out the payment arrangements to support Suppliers which are currently in place, and which would otherwise end after 30^th September 2022. The reasons for the decision to continue the arrangements are set out in the paper. The position will be reviewed again before the end of March 2023.

Conflicts of interest declared by any Cabinet Member consulted by the decision maker which relates to the decision:

No conflicts of interest

Dispensations Granted:

(If any)

N/A

Reports or parts of reports considered

Briefing Paper for the Strategic Director of Finance & Customer Services – Faster Payments October 2022 – March 2023.