Contact: Jon Pittam, ext 7400

1. Summary

1.1 This report sets out the extent to which the 2001/02 capital programme started and the carry forward and financing implications.

1.2 The following decisions are required:

(a) That capital payments for the year be financed as set out in Table 2 of the report

(b) That approval be given for the additional capital schemes contained in Table 2 of Appendix 1 to be carried forward from 2001/02 to 2002/03

(c) That it be determined that:

(i) £ 8,175,344 of expenditure reimbursed by developers and outside agencies be capitalised

(ii) £1,050,375 of basic credit approval lent to the County Council in 2000/01 by the Hampshire Fire and Rescue Authority and £2,000,000 of basic credit approval lent to the County Council by Portsmouth City Council in 2000/01 be returned to the authorities in 2001/02

(iii) a transfer of £703,453 from the Hampshire Fire and Rescue Authority and £1,500,000 from Portsmouth City Council be accepted in 2001/02 and returned in 2002/03

(iv) £22,032,393 capital receipts be used to meet capital expenditure in 2001/02

(v) £14,511,334 (including £3,073,447 reimbursed by other authorities in respect of deemed debt) be set aside as provision for credit liabilities from the revenue account to avoid new loans authorised by credit approvals

(d) That services' capital programme cash limits for 2002/03 be increased by the sums shown in:

(i) column 3 of Table 5 in Appendix 1 (to reflect services' share of capital receipts)

(ii) column 6 of Table 1 in Appendix 1 (to reflect the carry forward of capital schemes and of the balance of cash limits from 2001/02).

2. Reason

2.1 The Cabinet is required to make certain determinations each year on capital issues and to finalise capital accounting for 2001/02.

3. Other options considered and rejected

3.1 None.

4. Conflicts of interest declared by the decision maker or a member or officer consulted

4.1 Not applicable.

5. Dispensation granted by the Standards Committee

5.1 Not applicable.

6. Reason for the matter being dealt with if urgent

6.1 Not applicable.

Approved by: Date:

Councillor T K Thornber