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RESOLVED: That Cabinet:
 
(1)  
Noted the forecast expenditure of £16.999M in
2024/25 on the capital programme, paragraph 8.3 refers as amended
by the decision to reduce the slippage on museum
storage.
 
(2)  
Noted the position of the availability of capital
resources, as detailed in table 4 paragraph 8.6 and the requirement
to keep the capital programme under review for
affordability.
 
RECOMMENDED TO COUNCIL:That
it:

 
(1)  
Notes the position of Treasury Management activity as at the end of
September 2024.
 
(2)  
Approves capital budget in 2025/26 for a new flume (£300k)
and a refurbishment of the pool changing rooms (£330k) at
North Herts Leisure Centre, subject to the revised assessments
following the decision by Cabinet regarding Public Sector
Decarbonisation Scheme on 14 January 2025.
 
REASONS FOR
RECOMMENDATION:  
 
(1)  
Cabinet is required to approve adjustments to the capital programme
and ensure the capital programme is fully funded.

 
(2)  
To ensure the Council’s continued compliance with
CIPFA’s code of practice on Treasury Management and the Local
Government Act 2003 and that the Council manages its exposure to
interest and capital risk.

 
(3)  
The proposal to approve the 2025/26 capital budgets at North Herts
Leisure Centre in January (rather than in the usual budget report
at the end of February) means that the works can take place at the
same time as the decarbonisation works, and therefore not require
two periods where the pool cannot be used. It also provides a more
obvious benefit to users of the facility.