Decision details

Purpose of the report: presents the current position of the 2011/12 - 2015/16 Capital Programme, highlights the existing funding position and associated pressures and considers the bids received as part of this years Capital Resource Allocation Model (CRAM) process covering the period 2012/13 - 2016/17.

Members are asked to: recommend to Council the revised capital programme set out in the report

RECOMMENDED: That Council:

i)           Agree to the revised capital programme of £187.364m, that reflects a net overall increase of £53.641m (as set out in paragraph 32 table 9 and in Annex A ‘growth’ column). Key elements of this include:

a) Extension of prudential borrowing funded Rolling Programme schemes totalling £2.105m as set out in paragraph 10 table 2 and summarised in paragraph 32 table 9;

b) New  schemes totalling £10.405m including increase in prudential borrowing of £2.595m as set out in paragraph 13 table 3 and summarised in paragraph 30 table 10;

c) Reduction of existing prudential borrowing funded schemes totalling £4.500m as set out in paragraph 15 table 4 and summarised in paragraph 32 table 9;

d) New externally funded and HRA funded schemes totalling £16.381m including HRA balances of £4.447m and including £500k of New Homes Bonus funding for Replacement of Street Lighting  as set out in paragraph 18 table 5 and summarised in paragraph 32 table 9.

e) Extension of the existing IT development programme totalling £750k in 16/17 funded by prudential borrowing paid for from with in existing revenue budgets as set out in paragraph 31 table 8 and summarised in paragraph 32 table 9.

ii)           Approve the re-profiling of £150k from future years to 12/13 in relation to replacement of unsound lighting columns scheme as shown in Annex A.

iii)          Approve the full restated programme as summarised in Annex A totalling £187.364m cover financial years 2012/13 to 2015/16 as set out in paragraph 34 table 10.

iv)          Approve the establishment of the EIF and the proposed priority themes of expenditure as follows:

o      Get York Moving including

§    Access York Park and Ride - £2.5m

§    Better Bus Fund - £2.0m see Annex C

o      Digital York

o      Reinvigorate York

o      Economic Inclusion York

o      Sustainable Economy York

v)           Approve Council funding to the EIF as follows – £20m of prudential borrowing over next 5 years, all of the New Homes Bonus funds (currently estimated at £8.5m) from 2012/13 onwards, except for £0.5m in 2012/13 which is allocated for Street Lighting replacement.

vi)              Agree that the Director of CBSS be authorised to take decisions on the financing of any expenditure, and profiling of any borrowing, in accordance with the overall financial framework agreed by Council

vii)          Agree that decisions on the actual schemes, and monitoring of such schemes will be considered through regular financial monitoring reports to Cabinet.

REASON:                  To set a balanced capital programme as required by the Local Government Act 2003.