Issue - meetings

Capital Programme 2018-2019 to 2022-2023 quarter three review and 2019-2020 to 2023-2024 Budget Strategy

Meeting: 20/02/2019 - Cabinet (Item 5)

5 Capital programme 2018-2019 to 2022-2023 quarter three review and 2019-2020 to 2023-2024 Budget Strategy pdf icon PDF 227 KB

Additional documents:

Decision:

Council is recommended to:

1. Approve the City of Wolverhampton Council Capital Strategy.

2. Approve the revised medium term General capital programme of £337.8 million, a reduction of £1.3 million from the previously approved programme and the change in associated resources.

 

Cabinet resolved:

1. That the virements for the General capital programme be approved as detailed at Appendix 5 of the report for;

i. Existing projects totalling £1.8 million;

ii. New projects totalling £5.7 million.

2. That both delegations to the Cabinet Member for Resources, in consultation with the Director of Finance, be approved to continue to approve the allocation of;

i. The Corporate Contingency to individual projects in order that corporate priorities may be addressed in a more agile and timely manner;

ii. 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.

3. That authority be delegated to the Cabinet Member for Adults and Cabinet Member for City Assets and Housing, in consultation with the Director of Finance, to approve the allocation of the Disabled Facilities Grants budget to individual projects to enable the grant to be utilised in a timely and agile manner.

4. That it be noted that there are four new projects requiring internal resources for Secondary School Expansion Programme included in this report, but which are subject to a separate detailed project report also on this agenda. The inclusion of these projects is for budget approval purpose and is on the assumption that the approval to progress with the projects is given. As the progression is dependent on that decision, if the projects are not approved, the capital programme will be reduced accordingly. The names of the projects are:

·       Highfields School;

·       Ormiston SWB Academy;

·       St Edmund’s Catholic Academy;

·        West Midlands University Technical College (UTC).

 

Minutes:

Councillor Louise Miles presented the Capital programme 2018-2019 to 2022-2023 quarter three review and 2019-2020 to 2023-2024 Budget Strategy for approval and recommendation to Full Council. The report provided an update on the 2018-2019 financial performance of the General and Housing Revenue Account (HRA) capital programmes and the revised forecast for 2018-2019 to 2023-2024 as at quarter three 2018-2019. Revisions to the current approved General capital programme were recommended, covering the period 2019-2020 to 2023-2024.

 

Resolved:

 

Council is recommended to:

1. Approve the City of Wolverhampton Council Capital Strategy.

2. Approve the revised medium term General capital programme of £337.8 million, a reduction of £1.3 million from the previously approved programme and the change in associated resources.

 

Cabinet resolved:

1. That the virements for the General capital programme be approved as detailed at Appendix 5 of the report for;

i. Existing projects totalling £1.8 million;

ii. New projects totalling £5.7 million.

2. That both delegations to the Cabinet Member for Resources, in consultation with the Director of Finance, be approved to continue to approve the allocation of;

i. The Corporate Contingency to individual projects in order that corporate priorities may be addressed in a more agile and timely manner;

ii. 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.

3. That authority be delegated to the Cabinet Member for Adults and Cabinet Member for City Assets and Housing, in consultation with the Director of Finance, to approve the allocation of the Disabled Facilities Grants budget to individual projects to enable the grant to be utilised in a timely and agile manner.

4. That it be noted that there are four new projects requiring internal resources for Secondary School Expansion Programme included in this report, but which are subject to a separate detailed project report also on this agenda. The inclusion of these projects is for budget approval purpose and is on the assumption that the approval to progress with the projects is given. As the progression is dependent on that decision, if the projects are not approved, the capital programme will be reduced accordingly. The names of the projects are:

·         Highfields School;

·         Ormiston SWB Academy;

·         St Edmund’s Catholic Academy;

West Midlands University Technical College (UTC).