Decision details

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

Members are asked to recommend the proposals to Full Council.

Recommended:  (i)      That Council agree the revised capital programme of £459.625m, reflecting a net overall increase of £70.176m (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 £1.9m, as set out in Table 3;

b)   New schemes funded by a combination of prudential borrowing and external funds totalling £16.300m, as set out in Table 4;

c)   Extension of prudential borrowing funded Rolling Programme schemes totalling £31.411m, as set out in Table 5;

d)   Extension of externally funded Rolling Programme schemes totalling £10.475m, as set out in Table 8; and

e)   An increase in HRA-funded schemes totalling £10.090m, funded from a combination of HRA balances and Right to Buy receipts, as set out in Table 9.

(ii)      That Council note that the total increase in council borrowing as a result of new schemes being recommended for approval is £37.611m, 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 £459.625m, covering financial years 2022/23 to 2026/27, as set out in Table 13 at paragraph 72 of the report, and in Annex B.

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