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Decision details

Establishment of a Feasibility Reserve

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To recommend approval of the establishment of a Feasibility Reserve which will enable assessment and viability work to be undertaken on a number of Corporate, Investment and Regeneration initiatives that the Council are currently considering for delivery.


Decisions:

Councillor B Lewis introduced a report, that had been circulated prior to the meeting, which recommended the approval of the establishment of a Feasibility Reserve, which would enable assessment and viability work to be undertaken on a number of Corporate, Investment and Regeneration initiatives that the Council was currently considering for delivery.

 

RESOLVED to:

 

1)   Approve the establishment of a Feasibility Reserve of £2m which will be funded from the General Reserve; and

 

2)   Delegate responsibility for the allocation of resources up to the value of £0.100m from the reserve to the Interim Executive Director/Executive Director – Corporate Services and Transformation in consultation with the Managing Director and Interim Director of Finance and ICT/Director of Finance & ICT, with amounts in excess of this to be approved by the Deputy Leader and Cabinet Member for Corporate Services and Budget.

Report author: Tina Adams

Publication date: 21/04/2022

Date of decision: 07/04/2022

Decided at meeting: 07/04/2022 - Cabinet

Effective from: 15/04/2022

Accompanying Documents: