This report provides the quarter 3 update at 31 December 2016 on the progress of the capital programme 2016/17 and the treasury management position.

In accepting the recommendations Cabinet will approve and recommend to Council the net increase of £251,976 in the capital programme to £19,187,330 and all expenditure movements as detailed in Annex B and also in the capital programme attached at Annex A; to note the position of the Economic Development Fund at Annex B that it has been fully allocated until funds are returned from schemes in future years; the increase of capital expenditure of £60,110 is funded from capital receipts of £19,570 and the additional expenditure of £40,540 in the Economic Development Fund is being funded by revenue; the funding allocation to the capital programme as detailed in paragraph 3.1 and 3.2; and the treasury management and prudential indicators at Annex E.

The subject of the decision:

This report provided the Quarter 3 update at 31 December 2016 on the progress of the Capital Programme 2016/17 and the Treasury Management position.  A full schedule of the Capital Programme 2016/17 schemes was attached at Annex A of the report, together with the relevant update on progress of each scheme.

Alternative options considered:

None.

The reason for the decision:

To comply with the requirements of the Local Government Act 2003 and the Chartered Institute of Public Finance and Accountancy (CIPFA) Prudential Code and the CIPFA Treasury Management Code of Practice.

THE DECISION:

That Cabinet approves and recommends to Council:-

(1)     the net increase of £251,976 in the capital programme to £19,187,330 and all the expenditure movements as detailed in Annex B and also in the capital programme attached at Annex A of the report;

(2)     the increase in capital expenditure of £60,110 is funded from capital receipts of £19,570 and £40,540 from the Economic Development Fund;

(3)     the funding allocation of the capital programme as detailed in paragraph 3.1 of the report; and

(4)     the treasury management and prudential indicators at Annex E of the report.