The purpose of this report is to present to Members the capital outturn position for the year ending 31 March 2018 and also update on the annual treasury management position.  Capital expenditure is intrinsically linked with treasury management as the way that the capital programme is funded, directly effects the treasury management arrangements of the Council.

In accepting the recommendations, Cabinet will approve and recommend to Council to note the 2017/18 capital outturn position of £5,319,469 at paragraph 2.3 and attached at Annex A of the report; approve the over spend of £236,097 at paragraph 2.6 of the report and under spend of £57,147; approve the requests at paragraph 2.9 of the report for re-profiling the capital schemes totalling 947,076 from 2016/17 programme to 2017/18; approve the request at paragraph 2.10 of the report for re-profiling the additional capital schemes totalling £11,172,607  from 2017/18 programme to 2018/19 as attached in Annex B of the report; approve the request to enable the Council to bank roll the timing difference for the Dalton Bridge BID contributions and additional voluntary contributions in paragraph 3.2 of the report of £195,195 and £9,330; note the treasury management outturn position 2017/18 detailed at paragraph 13.3 and note the Prudential Indicators attached at Annex C of the report.

The subject of the decision:

This report presented the capital outturn position for the year ending 31 March 2018 and also provided an update on the annual treasury management position. 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.

Alternative options considered:

None.

The reason for the decision:

To ensure that the overall Capital Programme remained affordable and sustainable over the 10 year approved capital plan.

THE DECISION:

That Cabinet approves and recommends to Council that:-

(1)     the 2017/18 capital outturn position of £5,319,469 as detailed in paragraph 2.3 and attached at Annex ‘A’ of the report be noted;

(2)     the over spend of £236,097 and the under spend of £57,147 as detailed in paragraph 2.6 of the report be approved;

(3)     the requests at paragraph 2.9 of the report for re-profiling the capital schemes totalling £947,076 from 2016/17 programme to 2017/18 be approved;

(4)     the request at paragraph 2.10 of the report for re-profiling the additional capital schemes totalling £11,304,295 from 2017/18 programme to 2018/19 be approved as attached at Annex B to the report;

(5)     the request to enable the Council to bank roll the timing difference for the Dalton Bridge BID contributions and additional voluntary contributions as detailed in paragraph 3.2 of the report of £195,195 and £9,330 be approved;

(6)     the Treasury Management outturn position 2017/18 as detailed in the report be noted; and

(7)     the Prudential Indicators attached at Annex ‘C’ of the report be noted.