Issue - decisions

THIRD QUARTER INVESTMENT STRATEGY (CAPITAL AND TREASURY) REVIEW 2020/21

09/03/2021 - THIRD QUARTER INVESTMENT STRATEGY (CAPITAL AND TREASURY) REVIEW 2020/21

RECOMMENDED TO CABINET:

 

(1)       That the forecast expenditure of £2.354million in 2020/21 on the capital programme, paragraph 8.3 refers, be noted;

 

(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, increasing the estimated spend in 2021/22 by £1.102million, be approved;

 

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

 

(4)       That the £0.050million budget to refurbish the Gym Floor at the North Herts Leisure Centre be reprofiled into 2020/21, be approved. (The budget has been approved to spend in 2021/22 but with the Leisure Centre closed due to Covic-19 there’s an opportunity to bring this work forward and avoid closing the gym once Covid-19 restrictions have been lifted).

 

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.