This report provides the quarter 1 update at 30 June 2017 on the progress of the capital programme 2017/18 and the treasury management position.  A full schedule of the capital programme 2017/18 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 £1,249,252 in the capital programme to £16,877,580 as detailed in Annex B and also in the capital programme attached at Annex A of the report; that the increase of capital expenditure is funded from earmarked reserves at £1,249,252 where £162,798 is funded from capital receipts and £176,978 is from the Economic Development Fund and £909,476 is from external grants/contributions; 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 of the report.

The subject of the decision:

This report provided the Quarter 1 update at 30 June 2017 on the progress of the Capital Programme 2017/18 and the Treasury Management position.  A full schedule of the Capital Programme 2017/18 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 £1,249,252 in the Capital Programme to £16,877,580 as detailed in Annex ‘B’ and also in the Capital Programme attached at Annex ‘A’ of the report be approved;

(2)     the increase of capital expenditure is funded from earmarked reserves at £1,249,252, where £162,798 is funded from capital receipts, £176,978 is from the Economic Development Fund and £909,476 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.