Decision

Decision:
 
(1)        
To provide the additional subsidy of £114,279
to the Charity for the financial year 2024-25.

(2)        
To adjust the allocated budget to reflect the 3-year
Business Plan forecasts, namely a requirement of £80,687 for
2025-26 and £20,572 for 2026-27.
 
Reasons:

·     
Failure to pay the outstanding sum for the financial
year 2024-25 in line with GBC’s lease responsibility would
lead to the Charity becoming
insolvent and unable to pay its creditors.
 

·     
Adjusting the budgeted sums in line with the 3-year
business plan will allow the Council to support the Charity to
provide the Management Company with sufficient funding across the
business plan period.
 
Other options considered and
rejected by the Executive:
Do nothing
 
Details of any conflict of
interest declared by the Leader or lead councillors and any
dispensation granted:
None.