Decision details

a)    That the 2022/23 provisional revenue and capital outturn be noted;

b)    That the prudential indicators for 2022/23 as shown in Appendix E to the report be noted;

c)    That the net underspend be used for the additional commitments as specified in paragraph 69 the report;

d)    That in line with the County Council’s role as the accountable body for the East Midlands Freeport, a commercial cash flow loan of up to £4m to the East Midlands Freeport be agreed, and that the Director of Corporate Resources, following consultation with the Deputy Leader, be authorised to agree the conditions for further drawing down of the loan up to that limit.

(KEY DECISION)

REASONS FOR DECISION:

To note the provisional revenue and capital outturn for 2022/23 and agree use of the underspend.

As the accountable body for Freeport, the Council’s role includes providing support to the Freeport in delivering the objectives set by the Government. The loan is at commercial rates to avoid any conflict with subsidy control and ensure the Council receives an appropriate return on investment.