Decision details

RESOLVED: That Cabinet:

(1)   Noted the forecast expenditure of £8.225M in 2023/24 on the capital programme, paragraph 8.3 refers.

(2)   Approved the adjustments to the capital programme as a result of the revised timetable of schemes detailed in table 2, increasing the overall estimated spend in 2024/25 and beyond by £3.898M.

(3)   Noted the position of the availability of capital resources, as detailed in table 4 paragraph 8.6 and the requirement to keep the capital programme under review for affordability.

(4)   Approved the additional £40K spend on CCTV Replacement, as detailed in table 3.

RECOMMENDED TO COUNCIL:

(1)   That it notes the position of Treasury Management activity as at the end of September 2023 including the new Capital items.

(2)   That it confirms the addition of the Local Authority Housing Fund Phase 2 to the capital programme for 2023/24 and approves the reprofiling of Bancroft & Priory Splash Pads from 2024/25 into 2023/24. Both as detailed in table 3.

REASONS FOR DECISIONS:

(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.