Issue - meetings

[To review the outturn statement in respect of the Council’s capital budgets for 2018 – 2019.]

1.    That the revised City of Wolverhampton Council Capital Strategy be approved.

2.    That the revised medium term General Revenue Account capital programme of

£334.2 million, a reduction of £7.9 million from the previously approved programme and the change in associated resources be approved.

3.    That the revised Housing Revenue Account (HRA) capital programme of £441.9 million be approved, a reduction of £609,000 from the previously approved programme and the change in associated resources.

Councillor Louise Miles presented the Capital Budget Outturn 2018-2019 including Quarter One Capital Budget Monitoring 2019-2020 report for approval. She advised the report provided an update on the outturn position for 2018-2019 and update on the 2019-2020 financial performance of the General Revenue Account and Housing Revenue Account (HRA) capital programmes whilst also providing a revised forecast for 2019-2020 to 2023-2024 as at quarter one of 2019-2020. The report also recommended revisions to the current approved capital programmes covering the period

2019-2020 to 2023-2024.

She added the £16.7million change of funding was due to the projects now being funded by the Combined Authority.

Councillor Louise Miles proposed the recommendations and the Leader of the Council, Councillor Ian Brookfield seconded the recommendations.

In response to Councillor Wendy Thompson questions, Councillor Louise Miles agreed to provide a more detailed written response on:

• When the legal agreements with Urban and Civic on the westside project would be completed.
• Whether the overall risk rating of amber included Civic Halls.
• Whether procurement spend with local people and businesses was currently maximised.
• Confirm whether the Newbridge playing fields were open for general use. 

Resolved:

1. That the revised City of Wolverhampton Council Capital Strategy be approved.
2. That the revised medium term General Revenue Account capital programme of £334.2 million, a reduction of £7.9 million from the previously approved programme and the change in associated resources be approved.
3. 3. That the revised Housing Revenue Account (HRA) capital programme of £441.9 million be approved, a reduction of £609,000 from the previously approved programme and the change in associated resources.