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 under the Prudential Code for Capital Finance, or through the School Balances Loan Fund, against anticipated capital receipts and developers' contributions as follows:

a) Former Burnham Copse Infant School site, Tadley;

b) Cadland Primary School, Holbury;

c) "Coppers", 15 Reading Road South, Fleet;

d) Dowd's Farm housing development, Hedge End;

e) Hinton House, Kings Worthy;

f) Part of Kings Copse Primary School site, Hedge End;

g) Former Romsey Infant School site and part of Romsey Primary School site.

1.2 The proposals in this report support the Corporate priorities "Maximising well-being" and Enhancing our quality of place" 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 TK Thornber 5 April 2007

Executive Member for Policy and Resources