The Executive Board:
(a) AGREED that the pooled New Homes Bonus resource, as set out in the report, be used to fund the non-project costs required to support the successful delivery of the City Deal programme.
(b) NOTED that funding from this source was a commitment for 2015/16 only and that any further funding would be subject to a formal budget statement presented to the Board prior to the start of each financial year.
(c) AGREED that a detailed budget for 2015/16 would be considered by the Executive Board at the next meeting.
(d) AGREED that the three local authorities be requested to make initial budgetary provisions within their respective Medium Term Financial Strategies in line with the contents of the report, subject to the on-going availability of New Homes Bonus to the levels set out in the report.
(e) AGREED that the Chief Finance Officer of the County Council be given delegated responsibility to incur any essential expenditure pending the agreement of a detailed budget appertaining to the functions contained in the report, subject to a cap of £150,000 for the financial year.
(f) AGREED to consider additional opportunities for the use of pooled resources at a future meeting.