Council set to agree new operating arrangements

05 Jul 2019 ARCHIVED (over 3 months old) - view latest news

A new operating agreement between the Northumberland County Council and Advance Northumberland will be considered by the council’s Cabinet on 9 July.

 

New governance arrangements will be put in place following the creation of Advance Northumberland Limited in November 2018.

 

This will ensure transparent and robust arrangements are in place between the two organisations.

 

The Cabinet are also being recommended to agree a series of financial limits relating to loans from the council to Advance, detailing who can approve loans and at what level.

 

In addition, further revisions relating to loans to Advance are set to be agreed to ensure the risk on every loan is put through considered evaluation and assessment.

 

Councillor Nick Oliver, Cabinet Member for Corporate Resources, said: “Advance Northumberland continues to go from strength to strength, with several developments underway or being progressed in recent months.

 

“It’s vital therefore that we put the right arrangements in place between the company and the council on governance and financial transactions.

 

“This new operating agreement will provide clarity between all parties and ensure the right checks and procedures are in place.

 

“As a transparent organisation with responsibility for taxpayers money, our priority it to make sure every penny is being spent wisely and all decisions are properly scrutinised. 

 

“These new arrangements will mean the council, Advance Northumberland and the public can be assured there are robust measures in place going forward.”