Issue - decisions

The Executive considered a proposal 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, and agreed 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 confidential 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 contributes significantly to the Council’s strategic priorities.

(Note: the report contained information ‘not for publication’ that was circulated to executive councillors only)

The Executive Councillor (Corporate, Customer and Community Services) has agreed to assist the Cheadle and Marple College to deliver an essential property restructuring programme. This involved approving a short-term funding arrangement with the College subject to various conditions being agreed for the benefit of both parties.

The recommendations of the Officers’ report were approved.

(Note: the report accompanying this decision contains information ‘not for publication’ by virtue of Paragraph 3 of Schedule 12A of the Local Government Act 1972 (as amended) because the information related ‘to the financial or business affairs of any particular person (including the authority)’)