This report provides the Quarter 3 update at 31 December 2019 on the progress of the capital programme 2019/20 and the treasury management position.  A full schedule of the capital programme 2019/20 is attached at Annex A, together with the relevant update on progress of each scheme.

In accepting the recommendations, Cabinet will approve and recommend to Council that the net decrease of £6,124,630 in the capital programme to £21,834,415 and all expenditure movements as detailed in Annex B and also in the capital programme attached at Annex A of the report; the increase of capital expenditure of £767,515 is funded as follows: £114,015 is funded from capital receipts, £330,500 from borrowing, and £323,000 is from external grants/contributions; the funding allocation to the capital programme as detailed in paragraph 3.1 and 3.2 of the report; the treasury management and prudential indicators at Annex E of the report; and to note the position of the Council’s third party companies at Annex F of the report.

The subject of the decision:

This report provided the Quarter 3 update at 31 December 2019 on the progress of the Capital Programme 2019/20 and the Treasury Management position.  A full schedule of the Capital Programme 2019/20 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 £6,124,630 in the capital programme to £21,834,415 and all expenditure movements as detailed in Annex B and also in the capital programme attached at Annex A of the report;

(2)     the increase of capital expenditure of £767,515 funded as follows: £114,015 is funded from capital receipts, £330,500 from borrowing, and £323,000 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;

(4)     the treasury management and prudential indicators at Annex E of the report; and

(5)     to note the position of the Council’s third party companies at Annex F of the report.