Common use of Lead Authority Clause in Contracts

Lead Authority. 6.1 COLC, as the Lead Authority, shall continue to act as the accountable body to Government and administer the Pool. The Participating Authorities hereby acknowledge that the Lead Authority is carrying out valuable services on behalf of the Participating Authorities, and that it is entitled to reimbursement of its reasonable costs and expenses in providing those services. This MOU makes provision for the reimbursement in the calculation of Financial Benefit. 6.2 The GLA shall provide transactional support to the Lead Authority, including administering and operating treasury management and making any monetary transfers between Participating Authorities in respect of the Pool on behalf of the Lead Authority including any sums due to the GLA. 6.3 These monetary transfers between Participating Authorities will be collected or paid by the GLA on the basis of a schedule of payments which will be determined by the GLA in consultation with the COLC, reflecting the Government's Payment Requirements and scheduled instalment dates. which are prescribed in secondary legislation. (This reflects the fact that the GLA already has the systems in place to manage payment flows to and from Billing Authorities for the existing business rate retention scheme). 6.4 The GLA shall also transfer any sums required to COLC based on the schedule of instalments agreed with MHCLG so that COLC as Lead Authority can pay the net Tariff payment payable by the Pool as approved in the Local Government Finance Settlement. 6.5 COLC shall also transfer any sums COLC receives from MHCLG in Safety Net payments to the GLA so that the GLA can distribute this to Participating Authorities if applicable. 6.6 The Lead Authority's responsibilities shall include: 6.6.1 all accounting for the finances of the Pool and the balance of SIP funds remaining from prior years including payments to and from the Government; 6.6.2 management and administration of the Pool; 6.6.3 receiving payments from Participating Authorities and making payments to Government on behalf of Participating Authorities on time; 6.6.4 maintaining a cash account on behalf of the Pool and paying Interest on any credit balances; 6.6.5 liaising with and completing any formal Pool returns to central government; 6.6.6 administering the schedule of payments between Participating Authorities in respect of the financial transactions that form part of the Pool's resources; 6.6.7 providing the information required by Participating Authorities in preparing their annual statement of accounts in relation to the activities and resources of the Pool; 6.6.8 leading on reporting to understand the Pool's position during and at the end of the financial year; 6.6.9 responsibility for the Pool’s net Tariff payment to Government as well as the Tariff and Top up payments to and from the Participating Authorities individually; 6.6.10 all audit requirements in relation to the Pool; 6.6.11 production of an annual report (Annual Report) of the Pool's Activities following final allocation of funds for the year, which along with any final reconciliation payments required, concludes the rights and obligations of the Participating Authorities under this MoU (unless it has been extended for a further financial year); 6.6.12 the administration of the dissolution of the Pool; 6.6.13 all communications with the MHCLG including year-end reconciliations; 6.6.14 convening a Technical Group to advise the Lead Authority and Participating Authorities on the implications of the Pool and other proposed changes to business rates retention; 6.6.15 the collation and submission of information required for planning and monitoring purposes. 6.7 The Lead Authority may resign from its role on 3 months' written notice to all the Participating Authorities (or longer if required by the Government or where another Participating Authority is neither ready nor willing to assume the role of Lead Authority). 6.8 Transfers outside the pool relating to retained business rates (e.g. Section 31 Grant Payments, MHCLG’s share of individual Billing Authority collection fund surpluses or deficits, MHCLG's share of business rates income and transitional protection payments) will continue to be made between MHCLG and Participating Authorities.

Lead Authority. 6.1 COLC, as the Lead Authority, shall continue to act as the accountable body to Government and administer the Pool. The Participating Authorities hereby acknowledge that the Lead Authority is carrying out valuable services on behalf of the Participating Authorities, and that it is entitled to reimbursement of its reasonable costs and expenses in providing those services. This MOU makes provision for the reimbursement in the calculation of Financial Benefit. 6.2 The GLA shall provide transactional support to the Lead Authority, including administering and operating treasury management and making any monetary transfers between Participating Authorities in respect of the Pool on behalf of the Lead Authority including any sums due to the GLA. 6.3 These monetary transfers between Participating Authorities will be collected or paid by the GLA on the basis of a schedule of payments which will be determined by the GLA in consultation with the COLC, reflecting the Government's Payment Requirements and scheduled instalment dates. which are prescribed in secondary legislation. (This reflects the fact that the GLA already has the systems in place to manage payment flows to and from Billing Authorities for the existing business rate retention scheme). 6.4 The GLA shall also transfer any sums required to COLC based on the schedule of instalments agreed with MHCLG so that COLC as Lead Authority can pay the net Tariff payment payable by the Pool as approved in the Local Government Finance Settlement. 6.5 COLC shall also transfer any sums COLC receives from MHCLG in Safety Net payments to the GLA so that the GLA can distribute this to Participating Authorities if applicable. 6.6 The Lead Authority's responsibilities shall include: 6.6.1 all accounting for the finances of the Pool and the balance of SIP funds remaining from prior years including payments to and from the Government; 6.6.2 management and administration of the Pool; 6.6.3 receiving payments from Participating Authorities and making payments to Government on behalf of Participating Authorities on time; 6.6.4 maintaining a cash account on behalf of the Pool and paying Interest on any credit balances; 6.6.5 liaising with and completing any formal Pool returns to central government; 6.6.6 administering the schedule of payments between Participating Authorities in respect of the financial transactions that form part of the Pool's resources; 6.6.7 providing the information required by Participating Authorities in preparing their annual statement of accounts in relation to the activities and resources of the Pool; 6.6.8 leading on reporting to understand the Pool's position during and at the end of the financial year; 6.6.9 responsibility for the Pool’s net Tariff payment to Government as well as the Tariff and Top up payments to and from the Participating Authorities individually; 6.6.10 all audit requirements in relation to the Pool; 6.6.11 production of an annual report (Annual Report) of the Pool's Activities following final allocation of funds for the year, which along with any final reconciliation payments required, concludes the rights and obligations of the Participating Particpating Authorities under this MoU (unless it has been extended for a further financial year); 6.6.12 the administration of the dissolution of the Pool; 6.6.13 all communications with the MHCLG including year-end reconciliations; 6.6.14 convening a Technical Group to advise the Lead Authority and Participating Authorities on the implications of the Pool and other proposed changes to business rates retention; 6.6.15 the collation and submission of information required for planning and monitoring purposes. 6.7 The Lead Authority may resign from its role on 3 months' written notice to all the Participating Authorities (or longer if required by the Government or where another Participating Authority is neither ready nor willing to assume the role of Lead Authority). 6.8 Transfers outside the pool relating to retained business rates (e.g. Section 31 Grant Payments, MHCLG’s share of individual Billing Authority collection fund surpluses or deficits, MHCLG's share of business rates income and transitional protection payments) will continue to be made between MHCLG and Participating Authorities.