Decision Maker: Executive

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: March 27, 2025

Purpose: Approval of the grant agreement with the Yvonne Arnaud Theatre.

Content: Decision: 1.        Award a grant of £0.2m to the YAT for a period of 12 months to 31 March 2026 whilst a grant review is undertaken.  2.        Include in the grant agreement requirements that the YAT demonstrates how the grant is being used to: ·        Provide value for money, demonstrating how the grant will enable the YAT to secure match funding and move towards a more financially sustainable position.  ·        Provide additionality to the cultural and community offer that would have otherwise been provided by the YAT without the grant.  ·        Support our strategic outcomes for Guildford, in particular a more inclusive borough and a more prosperous borough.  Reason(s): 1.        Award a grant of £0.2m to the YAT for a period of 12 months to 31 March 2026 whilst a grant review is undertaken.  2.        Include in the grant agreement requirements that the YAT demonstrates how the grant is being used to: ·        Provide value for money, demonstrating how the grant will enable the YAT to secure match funding and move towards a more financially sustainable position.  ·        Provide additionality to the cultural and community offer that would have otherwise been provided by the YAT without the grant.  ·        Support our strategic outcomes for Guildford, in particular a more inclusive borough and a more prosperous borough.  Other options considered and rejected by the Executive: Option 1: Not continue funding Option 2: Reduce funding Details of any conflict of interest declared by the Leader or lead councillors and any dispensation granted: None.