Contact: Bob Eardley, Strategic Planning Manager, Children's Services Department, 01962 846275, email: [email protected]

1. Summary

1.1 The following decisions are sought:

1. That it be a RECOMMENDATION to Cabinet that borrowing be approved as outlined in the report for submission to the County Council under the Prudential Code for Capital Finance against the anticipated capital receipt for the sale of land at Woolston Road, Havant, as a contribution to the major project for provision of a new Sundridge School, Havant.

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 Children's Services 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 Felicity Hindson 19 January 2006