Agenda item

The Director of Finance submits a report to show the position of the capital programme at the end of December 2023 (Period 9). 

The Committee is recommended to consider the overall position presented within this report and make any observations it sees fit and note the quarterly prudential indicators presented in Appendix F.

The Director of Finance submitted a report to show the position of the capital programme at the end of December 2023 (Period 9).

The Committee was recommended to consider the overall position presented within this report and make any observations it saw fit and note the quarterly prudential indicators presented in Appendix F.

The Director of Finance noted that:

• This was the third such report for 2023/24.  As per previous reports it continued to flag pressures and slippages.  
• Members were reminded that once pressures were reported the ratings were reset.
• This was the first time the report had contained the additional index on prudential indicators.  The Council had approved the Treasury Strategy in February.  This appendix confirmed that the Council had complied with the Treasury limits.

In response to comments and questions from members, the following was stated:

• In response to a query about progress on the re-opening of Jewry Wall Museum, the City Mayor reported that he had visited the site with the media to look at progress made, and it was hoped to open early in 2025.  The listed building had been used well and was fit for purpose.  The importance of the site as the biggest example of non-military Roman masonry in the UK was highlighted.
• In terms of investment in Leicester Museum and Art Gallery (LMAG), a long period of investment had been undertaken and galleries had been moved around, including the important collection of Picasso exhibits.  A new café was being developed as customers at museums often expected refreshments, the café would make the museum more fit for purpose and accessible.  It was further added that visitors would not stay long at the museum if they could not get refreshments.  The new café was replacing the previous one as the previous café had been at the back of the building and there was now a better space that it could occupy.  This was only a small part of the remodelling that continued for many years on a regionally important gallery.
• With regard to the paintings in the gallery, the gallery had many important paintings that were rotated.
• Regarding works on St George’s churchyard, the scheme had been scaled back and trees were not the major focus.  The area was currently perceived as safe or friendly and as such work was needed.  The planning applications, which included the plans had been submitted, and were available to view.
• With regard to city estate shops on Thurncourt Road, these had been looked at pre-Covid.  An adequate scheme was yet to be seen.  The shops were an important part of the area they served and could benefit from investment.  The City Mayor would ask Ward Councillors to consider and discuss how improvements could be approached.
• Regarding the developments at Leicester Railway Station, it was noted it was a complex project with many parties involved and was dependent on the availability of contractors was being awaited.
• It was suggested that a site visit to LMAG and Jewry Wall Museum be arranged for members of the Committee and also members of the Culture and Neighbourhoods Scrutiny Commission.
• With regard to the Lothbury fund, an extension had been granted for the fund to see if an acquisition could happen.  This was a 60-day process, and an update would be available shortly.  This would be updated in the Annual Treasury Report.  Treasury advice would be sought once the decision was known.

AGREED:

1)    That the report be noted

2)    That the quarterly prudential indicators presented in Appendix F be noted.

3)    That a site visit to LMAG and Jewry Wall Museum be arranged for members of the Committee and also members of the Culture and Neighbourhoods Scrutiny Commission.

4)    That the City Mayor make contact with the Thurncourt Ward Councillors in respect of possible improvements to the Thurncourt Road shops; and

5)    That an update on the Lothbury Fund be provided in the Annual Treasury Report.