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Decision details

Approval for the increase of authorisation limits in the council's electronic banking system, HSBCnet

Decision Maker: Andy Brown (Director - Finance and Procurement and Section 151 Officer)

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Decision:

To approve the increase of authorisation limits in the electronic banking system (HSBCnet) to align with the changes to the Treasury Management Counterparty monetary limits approved under emergency arrangements by the CEOs on 31 March 2020.

Reasons for the decision:

MHCLG has provided funding to support the Covid-19 Business Grants scheme. This funding will be paid to all Local Authorities responsible for administering the scheme on 1 April 2020. The value of this funding for Wiltshire Council is £106m with payments likely to start to be processed the week beginning 6 April. Holding this value of cash is in excess of any normal business cash holdings values the council would expect to hold.

A decision has been made under emergency arrangements by the Chief Executive Officers to increase the value of Treasury Management Counterparty monetary limits that were approved by Council on 25 February 2020 as part of the Treasury Management Strategy 2020/2021. This limits have been increased from £15m per counterparty to £30m As a result of this decision it is necessary to approve the increase of the monetary limits of authorised officers within the council’s electronic banking system, HSBCnet to £30m.

I confirm that in making this decision I have considered the following in line with Wiltshire Council’s Constitution:

Key decision requirements: yes

Views of relevant cabinet member(s), committee chairman, area board(s): yes


Consideration of the area boards and delegated decision checklist for officers on the issue of when and how to involve local councillors and area boards in decisions about local services: not applicable

Implication of any council policy, initiative, strategy or procedure: yes

Consultation in accordance with requirements and expectations of consultation with the public: not applicable

Range of options available: yes

Staffing, financial and legal implications: yes

Risk assessment and equality implications: yes

Involvement of statutory officers and/or directors: yes

Regional or national guidance from other bodies: yes

The council’s constitution: yes

This contract is suitable for execution under the e-signature process: Not applicable

Alternative options considered:

The only other option would be to set up more ‘authoriser’ users within the HSNCnet electronic banking system, however the lead in time is longer than the time available. This option is therefore not acceptable as it would result cash being left in the council’s bank account which would be a breach of counterparty limits.

Conflict of Interest: Not applicable

Background: As the Director for Finance and Procurement, I am responsible for any matters relating to Finance and Procurement in the County of Wiltshire on behalf of Wiltshire Council. The power to make a decision in respect of this matter is delegated to me pursuant to Wiltshire Council’s Constitution.

Contact: Andy Brown, Corporate Director for Resources and S151 Officer Email: andy.brown@wiltshire.gov.uk.

Publication date: 02/06/2020

Date of decision: 01/04/2020

Accompanying Documents:

 

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