Decision details

RESOLVED:

(1)       That the forecast expenditure of £10.519million in 2020/21 on the capital programme be noted, paragraph 8.3 of the report refers;

(2)       That the adjustments to the capital programme for 2020/21 onwards as a result of the revised timetable of schemes detailed in table 2 of the report, increasing the estimated spend in 2021/22 by £0.296million be approved;

(3)       That the position of the availability of capital resources, as detailed in table 3 paragraph 8.6 of the report and the requirement to keep the capital programme under review for affordability be noted;

(4)       That the position of Treasury Management activity as at the end of June 2020 be noted.

REASONS FOR RECOMMENDATIONS:

(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.