This report provides an update at Quarter 3 as at 31 December 2017 on the progress on 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 recommends to Council that the net decrease of £1,276,256 in the capital programme to £6,087,595 as detailed in Annex B and also in the capital programme attached at Annex A of the report; the increase of capital expenditure is funded from earmarked reserves at £461,410 where £138,280 is funded from capital receipts, £95,130 is from the Economic Development Fund and £228,000 is from external grants/contributions; the funding allocation to the capital programme as detailed in paragraph 3.1 and 3.2 of the report; and the treasury management and prudential indicators at Annex E of the report.

The subject of the decision:

This report provided the quarter 3 update at 31 December 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:

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 £1,276,256 in the capital programme to £6,087,595 as detailed in Annex B and also in the capital programme attached at Annex A of the report;

(2)     the increase of capital expenditure is funded from earmarked reserves at £461,410 where £138,280 is funded from capital receipts, £95,130 is from the Economic Development Fund and £228,000 is from external grants/contributions;

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

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