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Issue - meetings

Capital Programme 2021/22 to 2025/26

Meeting: 11/02/2021 - Executive (Item 101)

101 Capital Budget 2021/22 to 2025/26 pdf icon PDF 534 KB

The Chief Finance Officer to present a report which sets out the Capital Strategy for 2021/22 to 2025/26; in particular, proposals to prioritise investment in the economy, housing and transport and to invest to save, and asks Executive to recommend the revised capital programme to Council.

 

 

 

Additional documents:

Decision:

Recommended:  (i)      That Council agree the revised capital programme of £546.880m, reflecting a net overall increase of £41.037m (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 £7.513m, as set out in Table 3;

b)   New schemes funded by a combination of prudential borrowing and external funds totalling £3.300m, as set out in Table 4 and summarised in Table 5;

c)   New schemes funded by a combination of prudential borrowing and other internal funds totalling £200k, as set out in Table 6;

d)   Extension of prudential borrowing funded Rolling Programme schemes totalling £10.870m, as set out in Table 5 and summarised in Table 7;

e)   Extension of externally funded Rolling Programme schemes totalling £7.00m, as set out in Table 9; and

f)     An increase in HRA-funded schemes totalling £11.954m, funded from a combination of HRA balances and Right to Buy balances, as set out in Table 10.

 

(ii)      That Council note that the total increase in council borrowing as a result of new schemes being recommended for approval is £20.483m, 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 £546.880m, covering financial years 2021/22 to 2025/26, as set out in Table 14 at paragraph 75 of the report, and in Annex B.

 

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

 

 

 

 

 

Minutes:

The Chief Finance Officer presented a report which set out the Capital Strategy for 2021/22 to 2025/26; in particular, proposals to prioritise investment in the economy, housing and transport and to invest to save.

 

The schemes outlined in the report continued the transformational programme to drive regeneration and accelerate the city’s economic recovery.  The report set out £41.037m of new investment over the five-year period, of which £8.500m was externally funded and £11.954m was met from the Housing Revenue Account, with £20.433m to be funded by council borrowing.  A summary of the new proposals was provided in Table 2 at paragraph 13 of the report, with further details in the following paragraphs and in Annex A.  The full re-stated programme for the 5-year period was detailed in Annex B

 

In supporting the programme, Members welcomed the investment in the council’s response to Covid and in their own portfolio areas, including major projects, libraries, homes and public spaces, carbon reduction and flood alleviation schemes.

 

Recommended:  (i)      That Council agree the revised capital programme of £546.880m, reflecting a net overall increase of £41.037m (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 £7.513m, as set out in Table 3;

b)   New schemes funded by a combination of prudential borrowing and external funds totalling £3.300m, as set out in Table 4 and summarised in Table 5;

c)   New schemes funded by a combination of prudential borrowing and other internal funds totalling £200k, as set out in Table 6;

d)   Extension of prudential borrowing funded Rolling Programme schemes totalling £10.870m, as set out in Table 5 and summarised in Table 7;

e)   Extension of externally funded Rolling Programme schemes totalling £7.00m, as set out in Table 9; and

f)     An increase in HRA-funded schemes totalling £11.954m, funded from a combination of HRA balances and Right to Buy balances, as set out in Table 10.

 

(ii)      That Council note that the total increase in council borrowing as a result of new schemes being recommended for approval is £20.483m, 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 £546.880m, covering financial years 2021/22 to 2025/26, as set out in Table 14 at paragraph 75 of the report, and in Annex B.

 

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

 


 

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