Decision

RESOLVED:

1. 1.  Approved the disbursement of £165,000 funding from the Household Support Fund Programme for April to September 2024 for Hackney Giving to fund 30 grants of £5k each to smaller voluntary and community sector organisations, plus their own administration costs at 10%.
2. 2.  Noted the overall financial position of the Council as at March 2024 as set out in the report.

REASONS FOR DECISION:

To facilitate financial management and control of the Council's finances and to approve the HSF proposal

DETAILS OF ALTERNATIVE OPTIONS CONSIDERED AND REJECTED:

This budget monitoring report is primarily an update on the Council’s financial position. On the HSF proposal, we considered developing and managing an open competition process to allocate this funding. However, the coordination and implementation of this approach in such a short timescale was potentially high risk and unachievable. Working with trusted partners like Hackney Giving who can mobilise quick responses to requests for help was considered the most effective response.