Decision details

Banking Contract Extension

Decision Maker: Director of Finance – Anne Ryans

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

The purpose of the report is to formally gain approval for the awarding of the 2 year extension option within the banking contract.

Decision:

RESOLVED - That:
to approve Option 1 presented in this report, thus enabling the Council to continue its relationship with Barclays Bank PLC for the provision of transactional banking services.

Reasons for the decision:

Option 1 – To approve the award of the 2 year extension to Barclays Bank PLC who are currently providing a high quality service that fits with current systems.
Option 2 – Not to formally the award of the 2 year extension to Barclays Bank contract. Due to the need of the service and the value of the contract a new tender exercise would be required. This would take at least 6 months to complete due to the volume of accounts and services that use Barclays Bank to receive income and expenditure.

Alternative options considered:

Option 2 – Not to formally the award of the 2 year extension to Barclays Bank contract. Due to the need of the service and the value of the contract a new tender exercise would be required. This would take at least 6 months to complete due to the volume of accounts and services that use Barclays Bank to receive income and expenditure.

Publication date: 07/08/2019

Date of decision: 31/07/2019

Accompanying Documents: