Decision details

1.1       That Cabinet supports this business case, and the creation of a strategic funding facility of £6.22 million over a three year period 2015–2018, funded from each council’s reserves, pro rata to planned savings for that council. The LBHF contribution to this facility is £2.46 million;

1.2       That Cabinet supports ASC plans for 2015-16, and the release of £833,000 in 2015-16 from LBHF reserves to execute these plans;

1.3       To note the following decision for Westminster City Council (WCC) and Royal Borough of Kensington and Chelsea (RBKC)

·         Westminster City Council (WCC)

That the Cabinet Member for WCC supports this business case, and the creation of a strategic funding facility of £6.22 million over a three year period 2015–2018, funded from each council’s reserves, pro rata to planned savings for that council. The WCC contribution to this facility is £2.41 million;

That the Cabinet Member for WCC supports ASC plans for 2015-16, and the release from WCC reserves of £737,000 in 2015-16 from WCC reserves to execute these plans;

·         Royal Borough of Kensington and Chelsea (RBKC)

That RBKC Cabinet supports this business case, and the creation of a strategic funding facility of £6.22 million over a three year period 2015–2018, funded from each council’s reserves, pro rata to planned savings for that council. The RBKC contribution to this facility is £1.35 million;

That RBKC Cabinet supports ASC plans for 2015-16, and the release of £499,000 in 2015-16 from RBKC reserves to execute these plans;