This report provides the Quarter 1 update at 30 June 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 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 increase of £176,077 in the Capital Programme to  £21,101,226 as detailed in Annex B and also in the Capital Programme attached at Annex A of the report ; 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 is funded from earmarked reserves at £401,077, here £117,199 is funded from capital receipts, £24,165 is from the One-Off Fund and £139,892 is from the Economic Development Fund and £119,821 is from external grants/contributions; the funding allocation to the Capital Programme as detailed in paragraph 3.1 and 3.2; the Treasury Management and prudential indicators at Annex E.

The subject of the decision:

This report provided the Quarter 1 update at 30 June 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 that:-

(1)     the net increase of £176,077 in the Capital Programme to £21,101,226 as detailed in Annex ‘B’ and also in the Capital Programme attached at Annex ‘A’ of the report be approved;

(2)     the position of the Economic Development Fund at Annex B of the report and that it has been fully allocated until funds are returned from schemes in future years be noted;

(3)     the increase of capital expenditure is funded from earmarked reserves at £402,077, where £117,199 is funded from capital receipts, £24,165 from the One-Off Fund, £139,892 is from the Economic Development Fund and £119,821 is from external grants/contributions be approved;

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

(5)     the Treasury Management and Prudential Indicators at Annex ‘E’ of the report be approved.