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Decision details

Capital Budget 2019/20 to 2023/24 (formerly Capital Programme 2019/20 and 2023/24)

Decision Maker: Executive

Decision status: Decision Made

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

This report presents the capital programme, including detailed scheme proposals.

 
Members will be asked to recommend the proposals to full council.

Decision:

Recommended: That Council:

 

(i)           Agree to the revised capital programme of £579.762m reflecting a net overall increase of £185.898m, as set out in table 13 at paragraph 92 of the report and in Annex A, key elements of which include:

·        New schemes funded by prudential borrowing totalling £28.960m as set out in table 3 and summarised in table 13.

·        New schemes funded by a combination of Prudential borrowing and external funds of £28.7m, as set out in table 4 and summarised in table 13;

·        Extension to existing schemes of £7.372m funded by prudential borrowing, as set out in table 5 and summarised in table 13;

·        Extension of prudential borrowing funded Rolling Programme schemes totalling £6.903m, as set out in table 6 and summarised in table 13;

·        Extension of externally funded Rolling Programme schemes totalling £7.941m, as set out in table 7 and summarised in table 13;

·        An increase in HRA funded schemes totalling £106.022m, funded from a combination of HRA balances / Right to Buy receipts, as set out in table 8 and summarised in table 13.

 

(ii)          Note that the total increase in council borrowing as a result of new schemes being recommended for approval, the details of which are considered within this report and the Financial Strategy report, is £46.385m.

 

(iii)        Approve the full re-stated programme, as set out in table 13 and summarised in Annex B, totalling £579.762m and covering the financial years 2019/20 to 2023/24.

 

Reason:              In accordance with the statutory requirement to set a capital budget for the forthcoming financial year.

 

Report author: Emma Audrain

Publication date: 15/02/2019

Date of decision: 14/02/2019

Decided at meeting: 14/02/2019 - Executive

Effective from: 19/02/2019

Accompanying Documents:

 

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