Decision details

Reduction in debt charges through use of reserves

Decision Maker: Executive

Decision status: Recommmend to Council

Is Key decision?: No

Is subject to call in?: No


RESOLVED  That Executive recommends to Council:


(i)   that £3.937m be invested to finance the Capital Programme as outlined in paragraph 1.11 of the report; and


(ii)  that the Capital Programme be re-financed in line with paragraph 1.11 of the report.


Reasons for the decision:

To achieve favourable rates of return compared with other forms of investment, through a proposal with little or no financial risk.


Alternative options considered:

Using a smaller amount of the Transformation Reserve was rejected as this would have reduced the overall revenue saving that could be achieved. The option of pursuing alternative investment projects instead of re-financing the Capital Programme was rejected as such projects were likely to involve greater financial risk and a return below 7-17%. 


Publication date: 04/12/2019

Date of decision: 16/09/2019

Decided at meeting: 16/09/2019 - Executive

Accompanying Documents: