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RESOLVED:
 
1. 
Approved the disbursement of £165,000 funding
from the Household Support Fund Programme for April to September
2024 for Hackney Giving to fund 30 grants of £5k each to
smaller voluntary and community sector organisations, plus their
own administration costs at 10%.
 
2. 
Noted the overall financial position of the Council as
at March 2024 as set out in the report.
 
REASONS FOR DECISION:
 
To facilitate financial management and control
of the Council's finances and to approve the HSF proposal
 
DETAILS OF ALTERNATIVE OPTIONS CONSIDERED AND
REJECTED:
 
This budget monitoring report is primarily an
update on the Council’s financial position. On the HSF
proposal, we considered developing and managing an open competition
process to allocate this funding. However, the coordination and
implementation of this approach in such a short timescale was
potentially high risk and unachievable. Working with trusted
partners like Hackney Giving who can mobilise quick responses to
requests for help was considered the most effective response.