Decision details

New Secondary School in the South of Wokingham

Decision Maker: Executive

Decision status: For Determination

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

Purpose: To update the Executive on progress and seek approval to changes to the funding of the project.

Decision:

 

RESOLVED That:

1)         additional funding of £6.9m be approved;

 

2)         the provision of a contingency of £3.36m be approved;

 

3)         the progress made by the project be noted;

 

4)        the risks to the opening of the school and the contingency plans put in place be noted;

 

5)        authority be delegated to the Director Finance and Resources to forward fund the project through short term borrowing of £7.5m in 15/16;

 

6)        how the shortfall and contingency will be funded, as set out in paragraph 2.7 of the report, be noted.

Wards Affected: Arborfield;

Declarations: None

Dispensations: None

Reference Number: WBC786

Contact: Email: heather.thwaites@wokingham.gov.uk Tel: 0118 974 6425.

Report author: Heather Thwaites

Publication date: 28/05/2015

Date of decision: 28/05/2015

Decided at meeting: 28/05/2015 - Executive

Effective from: 06/06/2015

Accompanying Documents: