Report Title: Treasury Management Contract
Decernitur numerus: 005/2021
Author and Job Role: Miranda Kadwell, Corporate Finance Manager
Protective Vestigium: MAGISTRATUS
Executive Notes:
To agree a 1 year contract commencing on 1st April 2021 with Surrey County Council for Treasury Management pending a transfer to in-house delivery of the treasury management function within the Surrey and Sussex Police corporate finance team.
Background:
A decision was made on the 4th April 2020 following a paper presented to the Joint Audit Committee meeting on 30 January 2020 that Treasury Management be transferred in-house delivery to a treasury management function within the Surrey and Sussex Police corporate finance team.
Despite notice being served on SCC due staffing pressures as a result of Covid Treasury Management remained in place with Surrey County Council (SCC). In addition in January 2021 a restructure of the Surrey and Sussex Corporate finance service was commenced and so it was agreed that this new service could not be provided until this was complete. The current contract is due to expire on the 31st March 2021 and no alternative arrangements have been put in place.
As a result a new contract on existing terms has been agreed with SCC for a period of 1 year. It remains the intention to bring the Treasury service in house during the life of this contract
Censeo:
Agree a 1 year contract commencing on 1st April 2021 with Surrey County Council for Treasury Management pending a transfer to in-house delivery of the treasury management function within the Surrey and Sussex Police corporate finance team.
Aliquam ac Sceleri LEGATUS Approbatio
Commendationem probo(s);
Subscriptio: David Munro (subscriptio humida praesto est exemplum durum)
Date: 22/02/2021
Omnes decisiones actis mandare debent additae sunt.
Areas considerationis
consultatio
Consultation involved the PCC Treasurer, Joint Audit Committee, Executive Director of Commercial and Finance Services, Director of Finance and finance teams.
Financial effectus
Returns on investment may not change significantly, the cost of providing this service in-house would remain competitive.
Legal
Contract termination requires a notice period of six months.
periculum
Inadequate treasury management services would present a risk to safeguarding Surrey Police investment funds and could result in reputational damage.
Aequalitas et diversitas
There are no equalities implications from this decision.
Pericula ad iuribus humanis
There are no risks to human rights from this decision.