Decision details

To consider the report of the Cabinet Member for Finance informing Council of any major changes in the overall General Fund & HRA Capital Programmes for the period of 2017/18 to 2021/22, highlighting the changes in the programme since the last reported position to Cabinet in August 2017.

(i)  Approve the revised General Fund Capital Programme, which totals £142.17M (as detailed in paragraph 59) and the associated use of resources.

(ii)  Approve the revised HRA Capital Programme, which totals £182.88M (as detailed in paragraph 59) and the associated use of resources.

(iii)  Notes that £3.86M has been added to the programme, with approval to spend, either under delegated powers or by Cabinet subject to the relevant financial limits. These additions are detailed in paragraph 7 and Appendix 1 and 3.

(iv)  Approve the addition of £0.03M to the E&T - City Services programme and approval to spend £0.03M as detailed in paragraph 9 and Appendix 1.

(v)  Approve the addition of £0.39M to the Sustainability programme and approval to spend £0.39M as detailed in paragraphs 10 to 14 and Appendix 1.

(vi)  Approve the addition of £0.50M to the Transport programme and approval to spend £0.50M as detailed in paragraph 15 and Appendix 1.

(vii)  Notes that the forecast position at Quarter 2 is £125.37M, resulting in a potential underspend of £36.90M, as detailed in paragraph 41 to 52 and Appendix 5.

(viii)  Approve the slippage and re-phasing as set out in paragraph 16-40 and as detailed in Appendix 4.

(ix)  Notes that the capital programme remains fully funded up to 2021/22 based on the latest forecast of available resources although the forecast can be subject to change; most notably with regard to the value and timing of anticipated capital receipts and the use of prudent assumptions of future Government Grants to be received.

The Capital Programme is reviewed on a quarterly basis in accordance with the Council’s Capital Strategy. The forecast position is reported to the Council Capital Board with any required programme update reported to Cabinet and Council for approval. This is required to enable schemes in the programme to proceed and to approve additions and changes to the programme.

The update of the Capital Programme is undertaken within the resource constraints imposed on it.  No new schemes can be added unless specific additional resources are identified.  Alternative options for new capital spending are considered as part of the budget setting process in the light of the funding available and the overall financial position.