Decision details

The Deputy Chief Executive submitted a report on proposed governance arrangements for a proposed Leeds Local Education Partnership and on the extent of the proposed financial investment by the Council.

RESOLVED –

(a)   That the arrangements for the establishment of and Council participation in the Leeds LEP as proposed by the report be approved;

(b)    That the arrangements for the discharge of the Council’s functions in relation to the Leeds Local Education Partnership as set out in the report and the delegations in Annex 1 to the report be approved;

(c)  The Council participate as a shareholder in the Leeds LEP, and invest:

  (i)  10% of the pure equity in the LEP, which at the date of this Board meeting is anticipated to be £528;

  (ii)  10% of the proposed shareholder loans to the LEP in order to fund the LEP’s working capital, amounting to £26,000 on the basis of the E4L model;

  (iii)  If additional shareholder loans are required by the LEP in order to fund the working capital of the LEP, 10% of such loans, subject to the entire Council investment by way of equity and shareholder loans not exceeding £50,000.

(d)  That the Deputy Chief Executive (or in his absence the Director of Corporate Services) may authorise any further action necessary to implement the arrangements set out in the report, including any amendments to the proposals in the report which do not affect the substance of those proposals.

(This decision was exempt from Call In by reason of urgency as detailed in paragraphs 1.2 and 1.3 of the report).