Decision details

That Council be recommended to:

1.    Approve the revised medium term General Fund capital programme of £314.5 million, an increase of £14.5 million from the previously approved programme (paragraph 2.4), reflecting the latest projected expenditure for the medium term.

2.    Approve the additional General Fund resources of £14.5 million identified for;

i. twelve new projects totalling £11.1 million (paragraph 4.1);

ii. eight existing projects totalling £3.4 million (paragraphs 3.14).

1. That the General Fund virements totalling £2.4 million detailed at Appendix C be approved for;

i. existing projects totalling £1.5 million (paragraph 3.15);

ii. new projects totalling £948,000 (paragraph 4.2).

2.  That the Housing Revenue Account (HRA) virements totalling £400,000 for existing projects (paragraph 3.15) be approved;

3.  That the updated schedules of works for the capital projects be approved under the following directorate (paragraph 3.16);

i. Corporate: ICTS, WV Active – Leisure Centres and in relation to Education; Schools Capital Maintenance, Building Schools for the Future (BSF) and Primary School Expansion Programme (appendix D1).

ii. People: Sports Investment Strategy, Co-location Programme, Children in Need - Aiming High for Disabled Children, Community Hubs and Early Education – Two Year Education Pilot (appendix D2).

iii. Place: Corporate Asset Management Programme, Urban Parks Refurbishment Programme, Disposals Programme, Accessing Growth Fund, Managing Short Trips, Highway Structures (bridges, subways, retaining walls), Southside Programme, Maintenance of classified roads, Maintenance of unclassified roads, Non - Highway Structures, Energy Efficiency Measures, Street Lighting, Highway Improvement Programme, Safety Programme and Cycling - Cycle Route Improvements (appendix D3).

4.  That authority be delegated to the Cabinet Member for Resources in consultation with the Director of Finance to approve the allocation of the 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 (paragraph 3.22).

5.    That it be noted that the General Fund expenditure position at quarter three of 2016/17 for existing projects stands at 40.6% of the approved capital budget.

6.    That it be noted that the General Fund forecast outturn for existing projects for 2016/17 stands at 78.3% of the approved capital budget.

7.    That it be noted that the HRA expenditure position at quarter three of 2016/17 for existing projects stands at 57.8% of the approved capital budget.

8.    That it be noted that the HRA forecast outturn position for existing projects for 2016/17 stands at 100.0% of the approved capital budget.

9.    That it be noted that this report incorporates four revenue budget reduction and income generation proposals which require capital resources and are subject to approval by this meeting and Council on 1 March 2017 as part of the Budget 2017/18 setting process, see report “2017/18 Budget and Medium Term Financial Strategy 2017/18 – 2019/20” on the agenda. The inclusion of the four projects in this report is on the assumption that approval will be given and therefore, their progression is dependent on that decision. The names of the budget reduction and income generation proposals/projects are:

·       Waste & Recycling strategy - service transformation

·       Highways Management

·       Commercial Facilities - Northycote Farm

·       District Parking

If the budget reduction and income generation proposals are not approved, the capital programme will be reduced accordingly.

10. That it be noted that there are two new projects requiring internal resources included in this report but which are subject to separate detailed project reports to Cabinet (Resources) Panel on 28 February 2017. The inclusion of these projects is for budget approval purposes and is on the assumption that the approval to progress with each project is given on 28 February 2017. As their 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:

·       Art Gallery Improvement Scheme

·       Development of Bantock House Complex

11. That it be noted that a separate report on this agenda seeks approval to the conversion of £1.0 million of loan capital to WV Living into investment in share capital (paragraph 3.20).