Agenda item

Report of the Chamberlain.

Members received a Report of the Chamberlain which updated Members on the work of City Procurement, and the key areas of progress since it last reported to the Finance Committee in July 2017.

The Chairman questioned officers as to City Procurement’s record of paying Small and Medium Sized Enterprises; timely payment should be a priority for the City as maintaining a healthy cashflow was critical for SMEs. Officers confirmed that (as at October 2017) 96% of all suppliers were being paid within 30 days; of these figures, a further breakdown indicated that 96% of SMEs specifically were being paid within 30 days (84% within 10 days).

In response to a Member querying the outlook for retrospective waivers, officers reiterated that the aim was to eliminate them entirely. A Report would be presented to Finance Committee in February detailing the work undertaken in this area.

RESOLVED – that Members noted the Report.