Agenda item

Report of the Chamberlain.

The Committee considered a report of the Chamberlain which set out the procedure for financial appraisals of third party entities.

Noting the financial thresholds over which appraisals would be undertaken, the Chairman observed that there would be a number of contracts which would be of significant importance to the Centre which fell below this level. He urged that appropriate prudence was taken in ensuring that key contracts of this nature also have financial appraisals requested, a sentiment echoed by the Committee. A Member also noted the previous undertaking to provide a précis of the appraisal undertaken within Committee reports, so as to give Members reassurance that due diligence had been carried out.

A Member queried a reference within the report which suggested that research officers were limited to using financial information provided, rather than being expected to pursue further information as appropriate; Members expressed concern that this would limit the efficacy of any appraisal. The Chairman commented that he recalled seeing a commitment to enabling Committees to request such further explorations to be made; the Town Clerk was asked to check that the final version of the report approved by the Finance Committee was the same as this and if any such undertaking had been provided.

RESOLVED: That the report be received and its content noted.