Issue - meetings

The Deputy Chief Executive / Director of Customer & Corporate Services to present a report which sets out the capital strategy for 2018/19 to 2022/23, and in particular new capital schemes, and asks Executive to recommend the revised programme to Council.

Recommended:That Council:

(i)           Approve the revised capital programme of £314.611m, reflecting a net overall increase of £54.767m (as set out in Table 10 at paragraph 81 of the report and in Annex B), key elements of which include:

·        Extension of prudential borrowing funded Rolling Programme schemes totalling £8.270m, as set out in Table 3 and summarised in Table 10;

·        New schemes totalling £8.506m, including an increase in prudential borrowing of £2.356m, as set out in Table 4 and summarised in Table 10;

·        Extension of externally funded Rolling Programme schemes totalling £5.380m, as set out in Table 5 and summarised in Table 10;

·        An increase in HRA funded schemes totalling £32.611m, funded from a combination of HRA balances and Right to Buy receipts, as set out in Table 6 and summarised in Table 10.

(ii)          Approve the full re-stated programme totalling £314.611m, as set out in Table 11 and Annex A.

Reason:              In accordance with the statutory requirement to set a capital budget for the forthcoming 2018/19 financial year.

The Deputy Chief Executive / Director of Customer & Corporate Services presented a report which set out the council’s capital strategy for 2018/19 to 2022/23, and in particular new capital schemes, and asked Executive to recommend the revised programme to Full Council.

The report set out details of £54.767m new investment over the five year period, of which £11.530m was externally funded, £32.611 to be met from the Housing Revenue Account (HRA) and £10.626m to be funded by the council.  Key priority areas for new or increased investment included transport schemes, highways, housing, information technology and disabled facilities grants. 

During their discussion, Members commented on aspects of the programme within their individual portfolio areas, including the importance of ongoing investment in flood defences, sustainable transport and public realm footpaths.  In relation to CCTV, efforts to secure a contribution from the police would continue.

Recommended:That Council:

(i)           Approve the revised capital programme of £314.611m, reflecting a net overall increase of £54.767m (as set out in Table 10 at paragraph 81 of the report and in Annex B), key elements of which include:

·        Extension of prudential borrowing funded Rolling Programme schemes totalling £8.270m, as set out in Table 3 and summarised in Table 10;

·        New schemes totalling £8.506m, including an increase in prudential borrowing of £2.356m, as set out in Table 4 and summarised in Table 10;

·        Extension of externally funded Rolling Programme schemes totalling £5.380m, as set out in Table 5 and summarised in Table 10;

·        An increase in HRA funded schemes totalling £32.611m, funded from a combination of HRA balances and Right to Buy receipts, as set out in Table 6 and summarised in Table 10.

(ii)          Approve the full re-stated programme totalling £314.611m, as set out in Table 11 and Annex A.

Reason:              In accordance with the statutory requirement to set a capital budget for the forthcoming 2018/19 financial year.