AMENDMENT TO FINANCIAL REGS AND STANDING ORDERS
The Procurement Threshold increased from £25,000 to £30,000 in December 2022. As a result the Standing Orders and Financial Regulations need to be updated to reflect this change.
Paragraph 11g will be updated to the following:
g. When it is proposed to enter into a contract of less than £30,000 in value for the supply of goods or materials or for the execution of works or specialist services other than such goods, materials, works or specialist services as are excepted as set out in paragraph (a) the RFO shall obtain 3 quotations (priced descriptions of the proposed supply); where the value is below £5,000 and above £1,000 the RFO shall strive to obtain 3 estimates. Otherwise, Regulation 10.1 above shall apply.
Paragraph 18c will be updated to the following:
c A public contract regulated by the Public Contracts Regulations 2015 with an estimated value in excess of £30,000 but less than the relevant thresholds in standing order 18(f) is subject to Regulations 109-114 of the Public Contracts Regulations 2015 which include a requirement on the Council to advertise the contract opportunity on the Contracts finder website regardless of what other means it uses to advertise the opportunity unless it proposes to use an existing list of approved suppliers (framework agreement).
Councillors are asked to confirm these changes to the Standing Orders and Financial Regulations
Clerk and Executive Officer to the Council