Agenda item

Report of the CGO

The Committee considered a report of the CGO presenting for approval the City Bridge Trust high-level summary Business Plan and budget estimates for 2020/21. The CGO introduced the report and drew Members’ attention to the key points.

In response to a query from the Deputy Chair, the CGO confirmed that the proposed £25 million funding uplift had been factored into the Business Plan, and that operational costs would continue to be at an appropriate ratio with grant expenditure. A Member raised whether the Committee should start to look at prospective spending allocations, in addition to the in-year and retrospective data the Committee considered. Whilst this should not become prohibitive, it may prove useful and provide a way to monitor changes in the relationship between the Committee’s budget and strategy.

RESOLVED – That the City Bridge Trust Committee:

i)       Approve, subject to the incorporation of any changes sought by this Committee, the final high-level summary Business Plan for 2020/21 in respect of those areas within the CBT Committee terms of reference;

ii)      Approve CBT’s proposed revenue budget for 2020/21 in respect of those areas within the CBT Committee terms of reference for submission to Finance Committee;

iii)     Authorise the Chamberlain, in consultation with the CGO, to revise these budgets to allow for any further implications arising from Corporate Projects, other reviews and changes to the Cyclical Works Programme; and

iv)     Agree that minor amendments for 2019/20 and 2020/21 budgets arising during budget setting be delegated to the Chamberlain.