Decision details

The Deputy Executive Leader and Cabinet Member (Resources) presented the confidential report of the Director of Finance which sought approval to undertake a joint procurement exercise with South Ribble Borough Council, in respect of asset valuation services for the purposes of financial accounts completion and insurance information.

Resolved:

1.    To approve the procurement strategy as outlined in this report.

2.    To approve the proposed evaluation criteria for the contract.

3.    To delegate authority to the Executive Member (Resources) to award the contract to the successful bidder identified through the procurement process.

Reasons for recommendations

The Council requires asset valuations for the purpose of completion of its accounts. It is also proposed to ask for valuations as supporting evidence for insurance purposes to improve the accuracy of cover procured. It is proposed to enter into a three year arrangement, with an option to extend for a further two years, to allow for consistency of relationship and information flows.

Other options considered and rejected

To use in house valuations. Given the considerable resource required, and within the specific time frames mandated by DLUHC to complete and publish audited statutory accounts, this was rejected.