Decision

1.    that the forecasted
revenue outturn position and amendments made to the published
2025/26 Capital Investment Plan be noted.
 

2.    that, subject to Council
approving the additional capital as set out in paragraph 2.6 of the
submitted report, the Director of Finance be given delegated
authority to agree appropriate terms and grant a capital loan up to
£2.5m to SWISCo for fleet modernisation; and
 
Recommends to
Council:
 

3.    that Council approves
the revisions to the Capital Investment Plan, as per Appendix
1;
 

4.    that Council approve the
additional borrowing of up to £2.5mto facilitate a capital
loan to SWISCo to enable them to modernise their fleet; and
 
5.    that Council approves an update to
the Capital Programme
of up to £3m allocated from Levelling Up Round 3 (LUF3) grant
to acquire the required land for the delivery of the Torbay Tech
Park.

Reasons for the decision

To ensure the Council
operates in a prudent manner and works to maintain a balanced
budget.

Alternative options considered

None