Capital Budget 2020/21 to 2024/25
Decision Maker: Executive
Decision status: Decision Made
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose of Report: To present the capital programme, including detailed scheme proposals.
Members will be asked to recommend the proposals to Full Council
Recommended: That Council:
(i) Approve the revised capital programme of £559.617m which reflects a net overall increase of £55.730m, as set out in table 12 at paragraph 89 of the report and in Annex A, key elements of which include:
a) New schemes funded by prudential borrowing totalling £14.645m, as set out in table 3 and summarised in table12;
b) New schemes funded by a combination of prudential borrowing and external funds of £695k, as set out in table 4 and summarised in table 12;
c) Extension of externally funded Rolling Programme schemes totalling £12.485m, as set out in table 5 and summarised in table 12;
d) Extension of externally funded Rolling Programme schemes, as set out in table 6 and summarised in table 12;
e) An increase in HRA funded schemes totalling £9.605m funded from a combination of HRA balances / Right to Buy receipts, as set out in table 7 and summarised in table 12.
(ii) Note that the total increase in council borrowing as a result of new schemes being recommended for approval is £40.655m, details of which are considered within this report and the Financial Strategy report.
(iii) Approve the full re-stated programme totalling £559.617m covering financial years 2020/21 to 2024/25, as summarised in Annex B to the report and set out in table 13 and Annex B.
Reason: In accordance with the statutory requirement to set a capital budget for the forthcoming financial year.
Report author: Emma Audrain
Publication date: 14/02/2020
Date of decision: 13/02/2020
Decided at meeting: 13/02/2020 - Executive
Effective from: 18/02/2020