Decision details

Decision:

Subject to Council approving the budget on 9 February 2022:

1.     That the following schemes be removed from the capital programme:

a)    SMC Ph 3 - £5.895 million, keeping £150,000 on the provisional programme.  The £5.895 million will move onto the capital vision

b)    Stoke Park masterplan enabling costs – PL56(p) - £500,000 – will move to the vision and come back with an updated business case

c)     Sports Pavilions replace water heaters (PL58(p)) £154,000 – will come back with a further bid if required

2.     That the new bids, as shown in Appendix 2 to the report submitted to the Executive be included in the provisional capital programmes.

3.     That £10.124 million for Foxburrows scheme be transferred from the HRA provisional programme to the HRA approved programme.

4.     That the affordability limit for schemes to be funded by borrowing be agreed as set out in paragraph 4.31 of the report and in Appendix 1 thereto.

5.     That the remit of the Strategic property fund budget be widened to allow estate redevelopments to be funded from the budget.

The Executive made the following recommendations to Council (9 February 2022):

1.     That the General Fund and HRA capital estimates, as shown in Appendices 3 to 12 to the report be approved, as amended to include the bids approved by the Executive at its meeting on 25 January 2022.

2.     That the Minimum Revenue Provision policy, referred to in section 5 of the report, be approved.

3.     That the capital and investment strategy be approved, specifically the investment strategy and Prudential Indicators contained within the report and Appendix 1.

4.     That the updated flexible use of capital receipts policy at Appendix 17 be approved.

Reasons:

1.     To enable the Council to approve the capital and investment strategy for 2022-23 to 2026-27

2.     To enable the Council, at its budget meeting on 9 February 2022, to approve the funding required for the new capital schemes proposed

Other options considered and rejected by the Executive:

None.

Details of any conflict of interest declared by the Leader or lead councillors and any dispensation granted:

None.