Decision details

Purpose of Report: To present the capital programme, including detailed scheme proposals.

The Executive are asked to recommend the proposals to full Council.

Recommended:  (i)      That Council agree the revised capital programme of £546.880m, reflecting a net overall increase of £41.037m (as set out in Table 2 at paragraph 13 of the report and in Annex A), key elements of which include:

a)   New schemes funded by prudential borrowing totalling £7.513m, as set out in Table 3;

b)   New schemes funded by a combination of prudential borrowing and external funds totalling £3.300m, as set out in Table 4 and summarised in Table 5;

c)   New schemes funded by a combination of prudential borrowing and other internal funds totalling £200k, as set out in Table 6;

d)   Extension of prudential borrowing funded Rolling Programme schemes totalling £10.870m, as set out in Table 5 and summarised in Table 7;

e)   Extension of externally funded Rolling Programme schemes totalling £7.00m, as set out in Table 9; and

f)     An increase in HRA-funded schemes totalling £11.954m, funded from a combination of HRA balances and Right to Buy balances, as set out in Table 10.

(ii)      That Council note that the total increase in council borrowing as a result of new schemes being recommended for approval is £20.483m, the details of which (schemes) are considered within this report and the financial strategy report.

(iii)     That Council approve the full re-stated programme totalling £546.880m, covering financial years 2021/22 to 2025/26, as set out in Table 14 at paragraph 75 of the report, and in Annex B.

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