As a public sector organisation the Council is required to comply with:
- Public Contract Regulations 2015
- Specific requirements of relevant funding bodies
- Council Financial Regulations
- Council Standing Orders for Contracts
- Council Procurement Strategy 2023 – 2028
- Subsidy Control Act 2022
This is to ensure transparency and fairness in how we procure, and that we obtain value for public money.
What do we mean by value for money?
A common misconception is that value for money, or VFM, means securing the the lowest price when purchasing. VFM is the best combination of associated costs and benefits that can be achieved to meet a particular need over the lifetime of that need. Through our market testing and tender specifications we are seeking to identify and select the most advantageous offer, that is – the best mix of cost and quality outputs that meet or exceed our requirements.