Issue - meetings

This report presents the Capital Strategy for 2017/18 to 2021/22 and asks the Executive to recommend the proposals to Council for approval.

Recommended: That Council:

·        Agree to the revised capital programme of £215.036m that reflects a net overall increase of £36.140m (as set out in paragraph 54 table 9 and in Annex B). Key elements of this include:-

o   Extension of prudential borrowing funded Rolling Programme schemes totalling £8.240m as set out in table 3 and summarised in table 9;

o   New schemes totalling £11.024m including an increase in prudential borrowing of £11.024m as set out in tables 4 & 5 and summarised in table 9;

o   Extension of externally funded Rolling Programme schemes totalling £6.764m as set out in table 5 and summarised in table 9;

o   An increase in HRA funded schemes totalling £10.112m funded from a combination HRA balances/Right to Buy receipts as set out in table 6 and summarised in table 9

·        Approve the full restated programme as summarised in Annex A totalling £215.036 cover financial years 2017/18 to 2021/22 as set out in table 10 and Annex A

·        Approve the proposal to allow wards, if required to bring forward their share of the 2018/19 Highways Resurfacing allocation (£250k in total per annum) to allow the potential for higher impact schemes as set out at paragraph 31.

Reason:        To set a balanced capital programme as required by the Local Government Act 2003

Members considered a report which set out the Capital Strategy for 2017/18 to 2021/22, and in particular set out new capital schemes.

The current capital programme was approved by Council on 25 February 2016.  Since then a number of amendments had taken place resulting in a current approved capital programme for 2016/17 – 2020/21 of £231.324m, financed by £134.499m of external funding and Council controlled resources of £96.825m.

Proposals in the sum of £36.140m had been made to increase the existing programme, details of which were set out in paragraphs 9 to 12 and summarised in Table 9 of the report.  With a summary of the new bids set out in Table 2 and the capital programme and growth summary in Annexes A and B.  The additions took the total Capital programme over next the next 5 years to £215m and the funding of those schemes was set out within the report.

It was noted that Page 232 within the report highlighted a range of other major projects and schemes within the Capital programme which would come through as individual reports during the year.

Recommended: That Council:

·        Agree to the revised capital programme of £215.036m that reflects a net overall increase of £36.140m (as set out in paragraph 54 table 9 and in Annex B). Key elements of this include:-

o   Extension of prudential borrowing funded Rolling Programme schemes totalling £8.240m as set out in table 3 and summarised in table 9;

o   New schemes totalling £11.024m including an increase in prudential borrowing of £11.024m as set out in tables 4 & 5 and summarised in table 9;

o   Extension of externally funded Rolling Programme schemes totalling £6.764m as set out in table 5 and summarised in table 9;

o   An increase in HRA funded schemes totalling £10.112m funded from a combination HRA balances/Right to Buy receipts as set out in table 6 and summarised in table 9

·        Approve the full restated programme as summarised in Annex A totalling £215.036 cover financial years 2017/18 to 2021/22 as set out in table 10 and Annex A

·        Approve the proposal to allow wards, if required to bring forward their share of the 2018/19 Highways Resurfacing allocation (£250k in total per annum) to allow the potential for higher impact schemes as set out at paragraph 31.

Reason:        To set a balanced capital programme as required by the Local Government Act 2003