Issue - meetings

Having considered an officer report and presentations by the Cabinet Member

for Finance, Skills and Jobs, Councillor Amanda De Ryk, and a member of the

public, the Mayor and Cabinet agreed that the current financial forecasts for

the year ending 31 March 2019 and the action being taken by the Executive

Directors to manage down the forecasted year-end overspend be noted;

The Cabinet allowed a member of the public, Cheryl McLeod to raise a

question regarding CRPL. She asked how was that Company allowed to

operate with only two directors while holding considerable assets and having

being the subject of a limited assurance audit.

Councillor De Ryk responded by stating CRPL was a wholly owned London

Borough of Lewisham company and while it held considerable assets, the

turnover was small. The Company Accounts were reported annually to

Council and the Directors did not receive any remuneration. She said the

Audit Panel would have oversight over any audit findings.

Having considered an officer report and presentations by the Cabinet Member

for Finance, Skills and Jobs, Councillor Amanda De Ryk, and a member of the

public, the Mayor and Cabinet, for the reasons set out in the officer report, by

7 votes to 0:

RESOLVED that the current financial forecasts for the year ending 31 March

2019 and the action being taken by the Executive Directors to manage down

the forecasted year-end overspend be noted;