Decision details

1.   Approve the 2021/22 Revenue Budget as presented in Appendix 1 to the report.  This includes the one-off virements of £415,000 in the revenue budget to be funded from the
earmarked reserve.

2.  Approve the Capital Budget for 2021/22 to 2025/26 as presented in Appendix 2.

3.  Fund the Gateway Reviews (Assurance) for the NWEAB and Project Sponsor led projects.
4.  Formally request all six local authorities to cooperate in using their funding flexibility
to release revenue funding for the NWEAB. This will mean exchanging the funding designated to the Growth Deal against other capital projects within their capital programmes and ensuring the equivalent value revenue funding is available for the Growth Deal to fund their revenue-type items.

5.  Request the Portfolio Management Office to review the project costs during the year as more information becomes available, further to unforeseen costs now identified in the revenue budget. This review to consider the option of funding part of this expenditure from the individual project’s capital budget.