Issue - meetings

To consider the report of the Cabinet Member for Finance & Customer Experience. The purpose of this report is to update the Capital Strategy and to inform Council of any major changes in the overall General Fund and HRA Capital Programme for the period of 2018/19 to 2022/23, highlighting the changes in the programme since the last reported position to Cabinet in November 2018.

DECISION MADE: (CAB 18/19 23240)

On consideration of the report of the Cabinet Member for Finance and Customer Experience and having taken the following amendments into consideration:

Page 189 TOP 0F BOX 13 – Transport - £15.21m should read ££12.56m

Page 189 BOTTOM OF 13 – Highways - £9.86m should read £8.68m

Page 190 – Weston Shore - £1m should read £0.8m

Cabinet agreed the following:

(i)  To note the revised General Fund Capital Programme, which totals £184.11M (as detailed in paragraphs 6 & 30) and the associated use of resources.

(ii)  To note the revised Housing Revenue Account (HRA) Capital Programme, which totals £221.59M (as detailed in paragraph 6 & 30) and the associated use of resources.

(iii)  To note that a further £16.68M has been added to the General Fund programme and £36.69M to the HRA programme totalling £53.37M, requiring approval to spend, by Cabinet subject to the relevant financial limits. These additions are detailed in paragraphs 9 to 13 and Appendix 1.

(iv)  To note the net addition of £53.37M to the overall capital programme and the request for approval to spend £53.37M as detailed in paragraphs 9 to 13 and Appendix 1.

(v)  To note the slippage and re-phasing totalling £20.52M as set out in paragraphs 14 to 21 and as detailed in Appendix 2.

(vi)  To notes the removal of schemes from the general fund capital programme totalling £3.90M and £12.05M from the HRA capital programme as set out in paragraphs 14 to 21 and as detailed in Appendix 1.

(vii)  To note that the capital programme remains fully funded up to 2022/23 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.

(viii)  To note that a review of the Council’s capital strategy has been undertaken as detailed in Appendix 4.