Decision details

RESOLVED: That Cabinet:

(1)   Noted expenditure of £11.348million in 2024/25 on the capital programme, paragraph 8.3 refers.

(2)   Approved the adjustments to the capital programme for 2025/26 as a result of the revised timetable of schemes detailed in table 2, increasing the estimated spend by £5.204million.

(3)   Noted the position of the availability of capital resources, as detailed in table 4 paragraph 8.7 and the requirement to keep the capital programme under review for affordability.

(4)   Approved the application of £3.712million of capital receipts/set aside towards the 2024/25 capital programme, paragraph 8.7 refers.

(5)   Noted the position of Treasury Management activity as at the end of March 2025.

RECOMMENDED TO COUNCIL: That it:

(1)    Approves the actual 2024/25 prudential and treasury indicators as detailed in Appendix B.

(2)   Notes the annual Treasury Management Review for 2024/25 (Appendix B).

REASONS FOR RECOMMENDATION:

(1)   Cabinet is required to approve adjustments to the capital programme and ensure the capital programme is fully funded.

(2)   To ensure the Council’s continued compliance with CIPFA’s code of practice on Treasury Management and the Local Government Act 2003 and that the Council manages its exposure to interest and capital risk.