Issue - meetings

To consider a report of the Executive Councillor (Corporate, Customer & Community Services)

The Council has been asked to consider whether it wishes to provide support to the Stockport and Cheadle & Marple Colleges, both of which are undertaking major change programmes which have significant capital and revenue financial implications.

The confidential report from council officers contains details regarding the position of the two colleges and the support the Executive may wish to approve, including a short term secured loan to the Cheadle and Marple College. It also recommends that an external organisation be commissioned to provide an independent view to the Council of the benefits and risks associated with the provision of financial and other support.

The Executive is recommended to:

(i)    agree that the discussions with the Colleges proceed as outlined above, and that short term secured loan finance be provided to Cheadle and Marple College as detailed in the confidential report; and

(ii)   endorse the proposal to secure external support to provide independent advice, capacity and financial expertise on proposed work to review the financial sustainability of the FE and HE Sector linked with assessing the best opportunities for developing a successful long term partnership which contributes significantly to the Council’s strategic priorities.

Officer contact: Steve Houston, 0161 474 4000, steve.houston@stockport.gov.uk

(Note: the report included information that was ‘not for publication’ and had been circulated to executive councillors only)

The Executive Councillor (Corporate, Customer & Community Services) submitted a report (copies of which had been circulated) inviting the Executive to consider a proposal to provide support to Cheadle & Marple and Stockport Colleges, both of which were undertaking major change programmes which had significant capital and revenue financial implications. The proposal included the provision of a short term secured loan to the Cheadle and Marple College, and a recommendation that an external organisation be commissioned to provide an independent view to the Council of the benefits and risks associated with the provision of financial and other support.

RESOLVED – That:

·         discussions with the Cheadle & Marple Sixth Form College and Stockport College be authorised to proceed as outlined in the report, and that short term secured loan finance be provided to Cheadle and Marple College as detailed in the exempt report; and

·         endorsement be given to the proposal to secure external support to provide independent advice, capacity and financial expertise on proposed work to review the financial sustainability of the FE and HE Sector linked with assessing the best opportunities for developing a successful long term partnership which contributed significantly to the Council’s strategic priorities.