Having considered an officer report, and a presentation by the Cabinet
Member for Children & Young People, Councillor Paul Maslin, the Mayor
agreed that
(1) Prendergast Ladywell School budget plan be approved and a loan
of £558k be made to cover the school’s budget shortfall in the first year of the
recovery plan
(2) Forest Hill School’s budget plan be approved and a loan of £879k be
made to cover the school’s budget shortfall in the first year of the recovery
plan;
(3) in accordance with the Scheme of Delegation and loan agreement both
schools pay back the loan over a five year period;
(4) authority be delegated to the Executive for Resources and Regeneration in
consultation with the Executive Director for Children’s Services and the Head
of Law to agree the terms of the Loan Agreements.