Issue - meetings

REPORT OF THE SERVICE DIRECTOR – RESOURCES

To obtain early approval for spend at North Herts Leisure Centre in 2025/26, so that it can be delivered alongside the decarbonisation works. This involves seeking Council approval for spend in 2025/26 on a new flume (£300k) and a refurbishment of the pool changing rooms (£250k) that includes them being converted in a change village.  

RESOLVED: That Council:

(1)   Noted the position of Treasury Management activity as at the end of September 2024.

(2)   Approved capital budgets in 2025/26 for a new flume (£300k) and a refurbishment of the pool changing rooms (£330k) at North Herts Leisure Centre.

REASONS FOR DECISION:

(1)   Cabinet has approved adjustments to the capital programme and has ensured 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.

(3)   The proposal to approve the 2025/26 capital budgets at North Herts Leisure Centre in January (rather than in the usual budget report at the end of February) means that the works can take place at the same time as the decarbonisation works, and therefore not require two periods where the pool cannot be used. It also provides a more obvious benefit to users of the facility.