Purpose

This report sets out the background to the current budget forecasting solution and its implementation as part of a review of financial management arrangements across the Council.

It also seeks authority to commence a procurement exercise for the continued provision of a budget forecasting solution following the end of the existing contract in November 2024.

Decision

Decision(s):

(1) Approval be given to begin a procurement exercise for the provision ofa budget forecasting solution utilising the Crown Commercial Services RM 6194 Framework Agreement.

(2) That the Executive Director of Corporate Resources and Customer Services, in consultation with the Cabinet Member for Regulatory, Compliance and Corporate Services be granted delegated authority to award the contract and to award any extension thereof.

Reasons for the Decision(s):

To support the Finance Service in providing an enhanced offer to the business in relation to strategic advice and support by: enabling transformation; supporting performance; and delivering accountability. To enable budget holders to have continued self service access to their budget information, actuals and commitments to support effective and efficient decision making.

Alternative Options Considered and Rejected:

Do nothing - There would be a risk in relation to the capacity of the Finance Service to meet its statutory obligations in terms of reporting in light of already reduced resources and an inability to continue to realise the benefits associated with a budget forecasting solution as outlined in this report.