The Local Authority has undertaken a tendering process for this banking contract in line with procurement regulations. The provision of the banking contract was awarded to Lloyds Bank. As a part of transitional arrangements, which will start 1 June 2023, we have explored the continuation of delegated banking accounts for Maintained Schools.
A review of the usage of the accounts has been completed. It has been determined that alternative options are available to schools, such as:
- The use of purchase cards where appropriate.
- Invoices processing via the invoice registration system in Unit 4 Business World.
- The use of PIMS for reimbursement of staff related expenses.
The options noted will also provide a clearer audit trail and reduce the administrative burden for schools and the Local Authority.
As part of the process representatives from Information Technology, Internal Audit and Central Finance have been consulted with to ensure that the closure of the delegated banking accounts is appropriate and achievable.
Consultation with schools
This consultation is now closed
- The consultation started 17 April 2023 and ran until 12 May 2023.