Issue - decisions

RECOMMENDED:That Council approve an increase in the Venture Fund of £435k (from £1,692k to £2,127k) to fund the Early Years deficit, as set out in paragraph 41 of the report, with the Executive wishing to see substantial efforts made to reduce this figure before the Full Council meeting in October.

REASON:      To enable the project to proceed, and in view of the fact that the Venture Fund balance is sufficient to cover the deficit, which can be repaid in future years from the estimated NPV savings of the Accommodations Project.