Decision Maker: Andy Brown (Corporate Director Resources & Deputy Chief Executive)
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
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.
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
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 Resources & Deputy Chief Executive (S.151 Officer) Email: andy.brown@wiltshire.gov.uk Tel: 01225 713070.
Publication date: 02/06/2020
Date of decision: 01/04/2020
Accompanying Documents: