To update the committee on the current status of the energy from waste loan arrangements to enable the committee to fulfil its delegated functions.

The Director of Finance (DOF) introduced the report the purpose of which was to update the committee on the status of the energy from waste loan arrangement to enable the committee to fulfil its delegated functions. The principal points included:

·       Repayments had been made as planned.

·       The loan balance was reducing with the balance as of October 2025 being £27 million.

·       It was explained to the committee that financial covenants look at the position and performance of the borrower and provide assurance over the risk of their ability to meet future debt repayments. It was confirmed no ratios were forecast to be below the agreed compliance.

In response to committee questions, it was noted:

1.     The DOF explained that the loan repayments that are shown in the report are for the term of the loan and that there would be a large payment for the outstanding balance in full due at the end in line with the legal loan agreement.

2.     There had been no concerns / risks raised with the contract management and effectiveness of the contract.

Resolved

The committee noted the report.