Issue - meetings

To consider a report by the Head of Financial Services outlining spending variations for 2011/12.

Received and noted the anticipated cost variations and timing changes in the Capital Programme for the 2011/12 financial year.

By means of a report by the Head of Financial Services (a copy of which is appended in the Minute Book) the Cabinet was acquainted with anticipated cost variations and timing changes in the Capital Programme for the 2011/12 financial year.

In considering the main variations to the programme, Members have been advised of the early repayment of a mortgage by a Housing Association.  Although this money could now be utilised to fund other schemes, Executive Councillors noted that the redemption would result in a significant loss of interest. Having suggested that any future loan be subject to an early repayment clause, the Cabinet

RESOLVED

  that the report be received and the expenditure variations noted.