Approve plans to reinvest remaining Leisure Investment funds into changing room and toilet facility refurbishments at Barton, Ferry and Leys Leisure Centres and at Oxford Ice Rink.

As per the Cabinet meeting dated 10^th July 2024, the reinvestment of remaining Leisure Investment Programme funds needs to be agreed via the delegated decision process (i.e. the purpose of this paper).

If the refurbs using this unallocated funding didn’t take place, this could result in customer complaints (due to the poor customer experience), a possible impact on Serco’s performance (therefore possible claim for loss of income) and would result in a slightly lower return for the Council via the management fee (where the loan repayment sits).

The outline costs for the refurbs are as follows. This is the total balance remaining of the Leisure Investment Programme funds, after outstanding, committed and agreed projects are taken into account. Spending this balance ensures that the Council will receive the maximum return from the loan.