Issue - meetings

Consideration has been given to the latest position on the 2022/23 Capital Programme and Prudential Indicators at the end of the first quarter to 30 June 2022.

RESOLVED -

(i)

That the Council be recommended to agree all variations to the 2022/23 Capital Programme as detailed in appendix 2 to the report.

(ii)

That the Council be recommended to approve the financing of the revised programme as set out in the report.

(iii)

That it be confirmed to Council capital expenditure and financing requirements have been revised in line with the amended budget and none of the approved Prudential Indicators set for 2022/23 have been breached.

(iv)

That the Strategic Director, Economy, Innovation and Growth, in consultation with the Strategic Director, Corporate Services and Governance and the Strategic Director, Resources and Digital be given delegated authority for the negotiation and approval of the tender and contract award for the floodlighting works at Gateshead International Stadium within the agreed capital programme allocation of £0.5m.

The above decisions have been made for the following reasons:

(A)

To ensure the optimum use of the Council’s capital resources in 2022/23.

(B)

To accommodate changes to the Council’s in-year capital expenditure plans.

(C)

To ensure performance has been assessed against the approved Prudential Limits.

(D)

In respect of (iv) above, to allow the contract for the works to be entered into and works completed prior to the start of the new football season.