The Director of Resources presented her report which updated members on the financial guarantees which the Council entered into on a number of regeneration projects and the mitigations with the associated risks. The Council’s external auditors, Grant Thornton, had recommended that the risks arising from the guarantees were closely monitored and the mitigations reported to Members.

Members noted that the Council always looked for funding options and they noted the arrangements for three major regeneration developments and noted that the arrangements were not unusual for Councils to make.

Resolved:

That the report be noted.