This report provides the Quarter 3 update at 31 December 2020 on the progress of the Capital Programme 2020/2021 and the Treasury Management position.  A full schedule of the Capital Programme 2020/21 is attached at Annex A of the report, together with the relevant update on progress of each scheme.

In accepting the recommendations, Cabinet will approve and recommend to Council the net decrease of £798,859 in the capital programme to £19,745,917 and all expenditure movements as detailed in Annex B and also in the capital programme attached at Annex A of the report; the increase of capital expenditure of £347,350 funded as follows: £323,778 is from external grants/contributions, £17,500 is funded from capital receipts and £6,072 from Economic Development Fund; the funding allocation to the capital programme as detailed in paragraph 3.1 and 3.2 of the report; the treasury management and prudential indicators at Annex E of the report; and to note the position of the Council’s third-party companies at Annex F of the report.

The subject of the decision:

This report provided the Quarter 3 update at 31 December 2020 on the progress of the Capital Programme 2020/2021 and the Treasury Management position.  A full schedule of the Capital Programme 2020/21 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:

Capital expenditure was intrinsically linked with Treasury Management as the way that the Capital Programme was funded directly affected the Treasury Management arrangements of the Council.

The decision:

That Cabinet approves and recommends to Council:-

(1)    the net decrease of £798,859 in the Capital Programme to £19,745,917 and all expenditure movements as detailed in Annex B and also in the Capital Programme attached at Annex A of the report;

(2)    the increase of capital expenditure of £347,350 funded as follows: £323,778 is from external grants/contributions, £17,500 is funded from capital receipts and £6,072 from Economic Development Fund;

(3)    the funding allocation to the Capital Programme as detailed in paragraph 3.1 and 3.2 of the report;

(4)    the Treasury Management and Prudential Indicators at Annex E of the report; and

(5)    to note the position of the Council’s third-party companies at Annex F of the report.