Archived decisions

Contact: Bob Eardley, Strategic Planning Manager, 01962 846275

1. Summary

1.1 The following decisions are sought:

1. That it be a RECOMMENDATION to Cabinet that borrowing of amounts set out in the report be approved under the Prudential Code for Capital Finance against anticipated capital receipts as a contribution to the costs of major projects at:

a) Chiltern Primary School, Basingstoke, subject to a resolution to grant an appropriate planning consent by Basingstoke and Deane Borough Council; and

b) Crestwood Community School, Eastleigh.

1.2 The proposal in this report supports Aim 1 of the Corporate Strategy (Maximising life opportunities) and Aim 5 (Improving services) by proposing allocations of funding to improve the learning environments of Hampshire schools.

2. Reason

2.1 To approve a submission for borrowing under the Prudential Code for Capital Finance.

3. Other options considered and rejected

3.1 The use of resources from the Education capital programme has been considered, but in view of the amounts involved, would require the postponement of a significant number of projects. To avoid those delays, it is considered reasonable to incur the additional borrowing costs which would arise from the proposals in this report.

4. Conflicts of interest declared by the decision maker or a member or officer consulted - none

5. Dispensation granted by the Standards Committee - not applicable.

6. Reasons for the matter being dealt with if urgent - not applicable.

Approved by Date of decision

Councillor D Allen 20 January 2005