Decision details

Purpose of report: Present the 5 year capital programme Budget 10/11 to 14/15 including new capital schemes and appropriate funding arrangements, following this years Capital Resource Allocation Model (CRAM) process.

Members are asked to: Recommend to Full Council the approval of the 5 year Capital programme Budget 10/11 to 14/15, the new schemes and the associated funding.

RECOMMENDED:(i) That Council approve the revised capital programme of £235.191m (amended from £234.916m), including specifically the inclusion in the programme of new schemes totalling £89.065m, as set out in the ‘growth’ column in Annex B to the report, plus a further Street Lighting Improvement scheme of £0.250m and £0.025m for further investment in the targeted home insulation programme to continue the £0.100, scheme commenced during 2009/10; the whole programme comprising:

a)     the bids recommended in paragraph 70 (table 5), totalling £7.618m and including the allocation of receipts to Access York Phase 1;

b)     the additional externally funded schemes in paragraph 77 (table 8), totalling £72.860m;

c)      the use of prudential borrowing for the IT development plan in paragraph 79 (table 9), totalling £5.141 and containing specific schemes of £1.141, with the remaining £4m subject to further approval and for the capital element of the More for York programme as in paragraph 80, totalling £210k;

d)     the use of HRA balances to fund HRA capital schemes, as set out in paragraph 81 (table 10), totalling £3.236m;

e)     an additional scheme of Street Lighting Improvements of £250k, on an Invest to Save basis, with a view to achieving energy / carbon savings, the repayment period to be determined by the Director of Resources;

f)        an additional scheme of £25k to continue the existing area based programme for home insulation grants in designated areas with the lowest SAP ratings and the highest incidence of fuel poverty.

                        (ii)        That Council note the overall funding position identified in the report, which highlights a current shortfall in resources over the next five years, which the Council will need to address through increased revenue contributions in the medium term.

                        (iii)       That Council endorse the principle of postponing asset sales until such time as the market picks up sufficiently to allow optimum values to be realised.

                        (iv)       That Council approve the full re-stated programme as summarised in Annex B to the report and as amended by recommendation (i) above, totalling £235.191m up to 2014/15.

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