Issue - meetings

Report of Assistant Director Wellbeing and Housing

Purpose of report

To propose an extension in the current Money Advice contract with Citizens Advice.

Recommendations

The Executive resolves:

1.1         To approve the extension of the existing money advice contract by one year, until January 2026.

1.2         To bring a further report to Executive within six months to consider options beyond 2026, to allow sufficient time to reprocure such a contract, if necessary.

Resolved

(1)          That the extension of the existing money advice contract by one year, until January 2026, be approved.

(2)          That officers be requested to bring a further report to Executive within six months to consider options beyond 2026, to allow sufficient time to reprocure such a contract, if necessary.

The Assistant Director Wellbeing and Housing submitted a report to propose an extension in the current Money Advice contract with Citizens Advice.

In considering the report, Executive members commented that in the current economic situation, the contract was excellent value for the service provided to residents.  

Resolved

(1)          That the extension of the existing money advice contract by one year, until January 2026, be approved.

(2)          That officers be requested to bring a further report to Executive within six months to consider options beyond 2026, to allow sufficient time to reprocure such a contract, if necessary.

Reasons

The money advice service is well used and is used by residents facing financial hardship, who may not be able to access other forms of financial advice and support. It is therefore recommended that it is continued for a further year considering the current contextual factors affecting households and household budgets.

Alternative options

Option 1: To end the Money Advice Contract at the end of the contract period (January 2025)

The is an option in accordance with the contract end date. The option is rejected due to the continued cost of living issues being faced by clients and high demand for the money advice and related Council services.

Option 2: To extend the Money Advice Contract by 2 years (until January 2027)

This option is within the scope of the current contract. This option is rejected to ensure that a re-procurement exercise and/or a review of the current provision can take place sooner.

Option 3: To extend the Money Advice Contract by less than 1 year
There is scope to extend for less than two years, and the minimum term of extension is not defined within the contract. Within the contract is an annual cost of services, so a new contract could be required to make this adjustment and therefore we cannot extend the existing contract due to terms within it changing. Extending by a period of one year will also give more time to review and procure a future service, if necessary. This option is rejected.