Decision details

To approve matters relating to the 2018-2019 Capital Budget Strategy and Medium Term Financial Strategy for Full Council to consider and approve.
To approve matters relating to the 2017-2018 capital budget at the end of quarter three.

That the Cabinet recommends that Council:

1. Approves the revised medium term General Fund capital programme of £373.1 million, an increase of £33.8 million from the previously approved programme (paragraph 2.4 of the report), reflecting the latest projected expenditure for the medium term.

2. Approves the net additional General Fund resources of £33.8 million identified for;

i. 11 new projects totalling £12.6 million (paragraph 4.1 of the report);

ii. Civic Halls, an existing project, of £23.7 million as approved by Council on 31 January 2018 (paragraph 3.23 of the report);

iii. i9 Office Development, a new project, of £13.0 million (paragraph 4.5 of the report);

iv. 23 existing projects net decrease totalling £15.5 million (paragraph 3.23 of the

report).

1. That the General Fund virements totalling £10.4 million detailed at Appendix 3 to the report be approved for;

i. existing projects totalling £6.1 million (paragraph 3.24 of the report);

ii. new projects totalling £4.3 million (paragraph 4.2 of the report).

2. That the updated schedules of works for the capital projects be approved under the following directorate (paragraph 3.25 of the report);

i. Corporate: ICTS and in relation to Education; Building Schools for the Future (BSF), Primary School Expansion Programme and Schools Capital Maintenance (Appendix 4 to the report).

ii. People: Sports Investment Strategy, Co-location Programme, Children in Need - Aiming High for Disabled Children and Early Education - Two Year Education Pilot (Appendix 5 to the report).

iii. Place: Corporate Asset Management Programme, Urban Parks Refurbishment Programme, Disposals Programme, Accessing Growth Fund, Southside Programme, Maintenance of unclassified roads, Non - Highway Structures, Highway Improvement Programme, Safety Programme, Maintenance of classified roads, Lighting up the City and Local Growth Funding (LGF) Feasibility (Appendix 6 to the report).

3. That the continuation of delegation to the Cabinet Member for Resources in consultation with the Director of Finance be approved to approve the allocation of the following (paragraph 3.26 of the report);

i. Provision of the ‘Corporate Contingency’ to individual projects in order that corporate priorities may be addressed in a more agile and timely manner;

ii. Provision of the ‘Transformation Development Efficiency Strategy’ to individual transformation projects in order to benefit from the capital receipts flexibility announced in the Autumn Statement 2015 and in line with the Medium Term Financial Strategy.

The Cabinet is asked to note:

1. That it be noted that the General Fund expenditure position at quarter three of 2017-2018 for existing projects stands at 84.6% of the profiled projected budget (paragraph 3.3 of the report).

2. That it be noted that the General Fund forecast outturn for existing projects for 2017-2018 stands at 70.4% of the approved capital budget (paragraph 3.1 of the report).

3. That it be noted that the HRA expenditure position at quarter three of 2017-2018 for existing projects stands at 113.5% of the profiled projected budget (paragraph 3.4 of the report).

4. That it be noted that the HRA forecast outturn position for existing projects for 2017-2018 stands at 100% of the approved capital budget (paragraph 3.1 of the report).

5. That it be noted that there is one new project ‘i9 Office Development’ requiring internal resources included in this report but which is subject to a separate detailed project report also on this agenda. The inclusion of this project is for budget approval purposes and is on the assumption that the approval to progress with the project is given. As the progression is dependent on that decision, if the project is not approved, the capital programme will be reduced accordingly.