The subject of the decision:

This report provided the quarter 2 update at 30 September 2014 on the progress of the capital programme 2014/15 and the treasury management position.  A full schedule of the capital programme 2014/15 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 that Council:-

(1)     approves the net decrease of £258,763 in the capital programme to £2,543,427 and the detailed capital programme attached at Annex A;

(2)     approves all movements in the capital programme +/- £20,000, in accordance with financial regulations, as detailed in Annex B and below:

          (a)     the increase in capital expenditure of £36,700 for the Footpath Diversion and & Car Park Creation at Leeming Bar;

          (b)     the decrease in expenditure from re-profiling of £131,000 from this year to 2015/16 for Hambleton All Weather pitch;

          (c)     the decrease in expenditure from re-profiling £200,000 from this year to 2015/16 for Leisure Equipment ;

(3)     notes the further overall increases in the capital programme which are individually  below £20,000 as detailed in Annex B and cumulatively total £35,537;

(4)     notes the Capital Funding position - contributions of £285,704, capital receipts of £857,707 and £1,400,016 capital reserves;

(5)     notes the treasury management activity at Annex C ;

(6)     approves the changes to the investment credit ratings process methodology whereby viability, financial strength and support ratings will not be considered as key criteria in the choice of creditworthy investment counterparties; this will continue to ensure the security of the Council’s funds; and

(7)     notes the prudential and treasury indicators at Annex E and that there were no changes at quarter 2 in the mid-year review.