Decision details

To consider the report of the Cabinet Member Leisure, Culture and Resources seeking to set out the latest estimated overall financial position on the General Fund Capital Budget for 2012/13 to 2014/15.

On consideration of the report of the Cabinet Member forResources, Leisure and Culture, Cabinet agreed to do the following:

Recommend that Full Council:

i)  Approve the revised General Fund Capital Programme, which totals £168.5M (as detailed in paragraph 4) and the use of resources.

ii)  Approve the forecast over programming of £751,000 as detailed in paragraph 11, which is within the previously approved tolerances and can be compared to the figure reported to Council in September of £8.1M.

iii)  Note that the reduction in the funding deficit is largely down to additional or increased forecast future capital receipts where the timing and exact value is to a degree uncertain.

iv)  Note the forecast funding deficit in 2011/12 as detailed in paragraph 15 that is likely to require temporary borrowing, the revenue implications of which have been reflected in the budget forecast for the General Fund.

v)  Add £4,084,000 to the Environment & Transport capital programme in 2012/13 for Roads which is currently to be funded by direct revenue financing (£2,672,000), Council Resources (£1,272,000 unsupported borrowing), on-street parking surplus contributions (£90,000) and other revenue contributions (£50,000).

vi)  Add £408,000 to the Environment & Transport capital programme for the Salix Energy Efficiency scheme in 2012/13 to be funded by government grants.

vii)  Add £519,000 to the Leisure & Culture capital programme phased £110,000 in 2012/13, £170,000 in 2013/14 and £239,000 in 2014/15 to carry out essential works at the Guildhall to be funded by Council Resources.

viii)  Add £805,000 to the Adult Social Care & Health capital programme for essential refurbishment and improvements at care homes in 2012/13 to be funded by government grant.

ix)  Delegate authority to the Chief Finance Officer in consultation with the Executive Director of Environment and following consultation with the Cabinet Member for Environment & Transport and the Cabinet Member for Resources, Leisure & Culture to add Salix schemes to the capital programme up to the value of £100,000 per year, funded from a self-sustaining budget created from savings generated.

x)  Note that the revised General Fund Capital Programme takes into account the Comprehensive Spending Review (CSR) for 2011/12 and future years.

The update of the Capital Programme is undertaken twice a year in accordance with Council Policy and is required to enable schemes in the programme to proceed and to approve additions and changes to the programme.

The update of the Capital Programme is undertaken within the resource constraints imposed on it.  No new schemes can be added unless specific additional resources are identified.  Alternative options for new capital spending are considered as part of the budget setting process.