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RESOLVED:
 
1. 
To approve
the savings summarised at paragraph 2.9 of this report and set out
in detail at Appendix.

 
2. 
Approve
the acceptance of the grant of £2,938,093 from the Department
for Energy Security & Net Zero’s Green Heat Network Fund
(GHNF) managed by Triple Point to support decarbonisation of the
Colville and Britannia Heat Network and agree to enter into a grant
agreement and associated documents with the applicable parties in
respect of such funding.

 
3. 
To note
the overall financial position of the Council as at October 2023 as
set out in this report.
 
REASONS FOR DECISION
 
To facilitate financial management and control of the
Council's finances and to approve the 5 savings schemes and the
acceptance of the GHNF grant allocation
 
DETAILS OF ALTERNATIVE OPTIONS CONSIDERED AND
REJECTED
 
This budget monitoring report is primarily an update on the
Council’s financial position. On the proposal to accept
£2,938,093  of funding from the
Green Heat Network Fund (GHNF), the alternative is not to accept
this grant. This would mean missing out on this opportunity, and
the Colville and Britannia Heat Network would either not go ahead
as planned or we would need to reprioritise and displace existing
projects on the capital programme. The savings listed at 2.9 are
necessary to achieve a balanced budget in 2024-25