Issue - meetings

This report summarises the current capital programme position covering 2012/13 – 2016/17 reflecting the Capital Monitor 3 report on this agenda, highlights the existing funding position and associated pressures and then presents the new bids received as part of this years Capital Resource Allocation Model (CRAM) process covering the period 2013/14 – 2017/18.

RECOMMENDED:    That Council:

i)    Agree to the revised capital programme of £176.709m, that reflects a net overall increase of £48.381m as set out in paragraph 30 table 10 and in Annex A ‘budget amendments’ column). Key elements of this include:

o    Extension of prudential borrowing funded Rolling Programme schemes totalling £3.365m including the IT development fund as set out in paragraph 10 table 2 and summarised in paragraph 27 table 9;

o    Creation of 2 new prudential borrowing funded Rolling Programme schemes totalling £1.500m as set out in paragraph 14 table 3 and summarised in paragraph 27 table 9

o    New  schemes totalling £3.585m including an increase in prudential borrowing of £3.185m as set out in paragraph 16 table 4 and summarised in paragraph 27 table 9;

o    New externally funded schemes totalling £25.974m as set out in paragraph 18 table 5 and summarised in paragraph 26 table 9

o    An increase in HRA funded schemes totalling £13.957m funded from HRA balances of £13.957m as set out in paragraph 19 table 6 and summarised in paragraph 27 table 9.

ii)   Approve the full restated programme as summarised in Annex A totalling £176.709m cover financial years 2013/14 to 2017/18 as set out in paragraph 30 table 10.

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

Cabinet considered a report that summarised the current capital programme position covering 2012/13 – 2016/17, reflected  the Capital Monitor 3 report on the agenda, highlighted the existing funding position and associated pressures and presented the new bids received as part of this year’s Capital Resource Allocation Model (CRAM) process covering the period 2013/14 – 2017/18.

Members considered the capital investment requests, as detailed in the report.

RECOMMENDED:    That Council:

i)        Agree to the revised capital programme of £176.709m, that reflects a net overall increase of £48.381m as set out in paragraph 30 table 10 and in Annex A ‘budget amendments’ column). Key elements of this include:

·        Extension of prudential borrowing funded Rolling Programme schemes totalling £3.365m including the IT development fund as set out in paragraph 10 table 2 and summarised in paragraph 27 table 9;

·        Creation of 2 new prudential borrowing funded Rolling Programme schemes totalling £1.500m as set out in paragraph 14 table 3 and summarised in paragraph 27 table 9

·        New  schemes totalling £3.585m including an increase in prudential borrowing of £3.185m as set out in paragraph 16 table 4 and summarised in paragraph 27 table 9;

·        New externally funded schemes totalling £25.974m as set out in paragraph 18 table 5 and summarised in paragraph 26 table 9

·        An increase in HRA funded schemes totalling £13.957m funded from HRA balances of £13.957m as set out in paragraph 19 table 6 and summarised in paragraph 27 table 9.

ii)       Approve the full restated programme as summarised in

Annex A totalling £176.709m over financial years 2013/14 to 2017/18 as set out in paragraph 30 table 10. ^1.

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