Capital Budget 2022/23 to 2026/27
Decision Maker: Executive
Decision status: Decision Made
Is Key decision?: No
Is subject to call in?: No
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.
Report author: Emma Audrain
Publication date: 08/02/2022
Date of decision: 07/02/2022
Decided at meeting: 07/02/2022 - Executive