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.

Audio recording – 1 hours 22 minutes 47 seconds

N.B Councillor Paul Ward, having declared an interest due to his employment, left the Chamber at 20.53 and did not take place in the debate or vote.

Councillor Daniel Allen presented referral 8B from Cabinet.

Councillor Ian Albert presented the report ‘Second Quarter Investment Strategy (Capital and Treasury) Review 2024/25’ and highlighted that:

·       This followed the recent decision to progress with the Leisure Centre Decarbonisation Scheme and sought approval for capital expenditure for 2025/26 to take place alongside those works.

·       The Council would generate £2.4M of interest in 2024/25 from investments made during the first half of the year and it was forecast that the Council would generate £2.8M of interest over the whole of 2024/25.

·       The changes proposed and agreed by Cabinet were outlined in Table 3 of the report and included a full review of expected spend in this year.

·       The amount required for the changing rooms upgrade had increased from previous forecasts to £330k but the estimate for the flume remained unchanged at £300k.

·       Improved facilities would be popular with residents and would support the income to the Council from these facilities.

In response to a question from Councillor Ralph Muncer, the Service Director – Resources advised that the contractor who operate North Herts Leisure Centre provided income based on the leisure facilities meeting certain conditions, including a working flume and adequate changing facilities.

Councillor Ian Albert proposed,  Councillor Val Bryant seconded the recommendation and following a vote, it was:

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.

N.B. At 21:00 following the conclusion of this item, there was a comfort break and the meeting reconvened at 21.11.

N.B. During the break, Councillor Lisa Nash left the meeting and did not return.