Decision details

Resolved: to note the report. The Committee agree to refer its views to Mayor and Cabinet, as follows:

·         The Committee asks for additional information about the level of the Council’s reserves. It would like to better understand the different types of financial reserves held by the Council.

·         The Committee recommends that the contingency put aside in the budget should more closely relate to the level of risk of achieving savings put forward each year in the Lewisham Future Programme.

·         The Committee also requests further information about school deficits. Specifically, it would like to know how many primary and secondary schools are in deficit, how many are projected to be in deficit in the future and whether or not Lewisham is an outlier in London and in England, in relation to the number of schools in financial difficulty.