Issue - meetings

Council Owned Companies' Business

Meeting: 27/10/2016 - Executive (Item 67)

67 Council Owned Companies' Business pdf icon PDF 418 KB

Decision:

That:

1)        the budget monitoring position for the month ending 31 August 2016 be noted;

 

2)         the operational update for the period to 30 September 2016 be noted;

 

3)        the short term loan facility for Optalis Limited of £350k, charged at base rate plus 5.5% be approved.

 

Minutes:

(Councillors Pauline Jorgensen and Anthony Pollock declared personal interests in this item)

The Executive considered a report setting out the budget monitoring position for the month 31 August 2016 and an operational update for the period to 30 September 2016.  It was noted that in order to assist Optalis manage its cash flow requirements a short term loan facility of £350k was being proposed.

 

RESOLVED that:

1)        the budget monitoring position for the month ending 31 August 2016 be noted;

 

2)         the operational update for the period to 30 September 2016 be noted;

 

3)        the short term loan facility for Optalis Limited of £350k, charged at base rate plus 5.5% be approved.