Decision details

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

Members will be asked to recommend the proposals to Full Council.

This item was originally due to be received by the Executive on 13 February 2025, but has been brought forward to the 21 January 2025 in order to fit with budget timelines.

Resolved:

                         i.         To recommend the Council agree to the revised capital programme of £385.383m that reflects a net overall increase of £60.947m (as set out in table 2 and in Annex 1). Key elements of this include:

a.    New schemes funded by prudential borrowing totalling £8.150m as set out in table 3;

b.    Extension of prudential borrowing funded Rolling Programme schemes totalling £24.712m as set out in table 4;

c.    Extension of externally funded Rolling Programme schemes totalling £11.935m as set out in table 5;

d.    An increase in HRA funded schemes totalling £16.150m funded from a combination HRA balances/capital receipts as set out in table 6;

                        ii.         To recommend that Council noted the total increase in Council borrowing as a result of new schemes being recommended for approval is £32.862m the details of which are considered within this report and the financial strategy report.

                      iii.         To recommend that Council approve the full restated programme as summarised in Annex 2 totalling £385.383m covering financial years 2025/26 to 2029/30 as set out in table 10 and Annex 2.

Reason: To ensure the Council maintains the funding for the capital programme.