Decision details

Approve matters relating to the year-end position against the 2016/17 capital budget.

Recommend an updated capital budget for 2017/18 to full council, along with medium term forecasts for the period to 2020/21.

1.     That the revised medium term General Fund capital programme of £329.6 million, an increase of £13.5 million from the previously approved programme, reflecting the latest projected expenditure for the medium term be approved.

2.     That the revised medium term Housing Revenue Account (HRA) capital programme of £261.7 million, a decrease of £1.9 million from the previously approved programme, reflecting the latest projected expenditure for the medium term be approved.

3.     That additional General Fund resources of £13.5 million be approved  for;

i.    CCTV - Grant to Wolverhampton Homes, a new project, of £20,000;

ii.   Penn Kids, a new project of £325,000;

iii.  sixteen new projects totalling £11.8 million;

iv. sixty six existing projects net reduction totalling £518,000;

v.  Southside – Market Relocation, an existing project, of £1.9 million.

4.That a grant of £20,000 be awarded to Wolverhampton Homes to procure and install CCTV equipment on the Glentworth Gardens estate.

5.That receipt of a £325,000 grant awarded by Department of Education for Penn Kids to increase capacity in order to deliver 30 hours free childcare be approved.

6.That the full grant awarded to the Council of £325,000 be transferred to the third party provider Penn Kids.

7.That it be noted, that the capital budget requirements of the ‘Southside – Market Relocation’ project was included within the report, however the capital budget required to instruct a contractor to commence the market relocation project would not be released until a further paper is considered by Cabinet (Resources) Panel.