This report provides the Quarter 3 update to 31 December 2022 on the progress of the capital programme 2022/23 and the treasury management position.  A full schedule of the capital programme 2022/23 is attached at Annex A to 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 reduction of £2,348,003 in the 2022/23 capital programme to £19,295,090 and all expenditure movements as detailed in Annex B and also in the capital programme attached at Annex A of the report; the decrease of capital expenditure of £2,348,003 be funded from reduced levels of borrowing than previously anticipated in this financial year, offset by additional external grants; and the funding allocation to the capital programme as detailed in paragraph 3.1 and 3.2 of the report.

The subject of the decision:

This report provided the quarter 3 update at 31 December 2022 on the progress of the Capital Programme 2022/23 and the Treasury Management position.  A full schedule of the Capital Programme 2022/23 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:

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 reduction of £2,348,003 in the 2022/23 capital programme to £19,295,090 and all expenditure movements as detailed in Annex B and also in the capital programme attached at Annex A of the report;

(2)      the decrease of capital expenditure of £2,348,003 be funded from reduced levels of borrowing than previously anticipated in this financial year, offset by additional external grants; and

(3)      the funding allocation to the capital programme as detailed in paragraph 3.1 and 3.2 of the report.

Note: Councillor S Watson arrived at the meeting at 9.31am.