Issue - meetings

[To approve the Capital Programme 2021-2022 to 2025-2026 Quarter Two Review]

That Council is recommended to approve:

1.    The revised, medium term General Revenue Account capital programme of £298.1 million, an increase of £6.7 million from the previously approved programme, and the change in associated resources.

That Cabinet approves:

1.  The virements for the General Revenue Account capital programme detailed at Appendix 4 to the report for:

     i.    existing projects totalling £4.3 million;

     ii.   new projects totalling £1.7 million.

2.  The virements for the Housing Revenue Account (HRA) capital programme detailed at Appendix 4 to the report for:

     i.    existing projects totalling £3.6 million.

The Cabinet notes:

1.    That there is an intentional ‘over-programming’ of projects to reflect the reality that some projects will inevitably be delayed due to unexpected circumstances or changes to priorities. Over-programming aims to ensure that, as far as possible, the resources available are fully utilised.

2.    That the following capital projects are included in a bid for external European Regional Development Fund grant as part of the Wolverhampton Investment in Smart Energy programme. If successful, and subject to confirmation of grant funding, this could attract up to 40% of external funding that would reduce the amount of internal resources required to fund the Corporate Asset Management programme. Any realised changes in resources as a result of grant confirmation will be reflected in future monitoring reports for approval.

·        Aldersley Leisure Centre (Hockey Pitches) – External lighting to include electrical controls & lighting columns;

·        Bradley Resource Centre – Mechanical Plant upgrade;

·        Civic Centre – Flue replacement.

Councillor Ian Brookfield presented the update report on the financial performance of the 2021-2022 General Revenue Account and Housing Revenue Account (HRA) capital programmes.  The report also provided a revised forecast for 2021-2022 to 2025-2026 as at quarter two of 2021-2022.  Councillor Brookfield referred to the raft of projects in the capital programmes that covered every part of the city and reflected the priorities of the Council.  He also highlighted some of the key projects in the programmes that would improve life chances, skills, and transpose the green economy of the city. Revisions to the current approved capital programmes covering the period 2021-2022 to 2025-2026 were recommended to Full Council for approval.

Resolved:

That Council is recommended to approve:

1.    The revised, medium term General Revenue Account capital programme of £298.1 million, an increase of £6.7 million from the previously approved programme, and the change in associated resources.

That Cabinet approves:

1.  The virements for the General Revenue Account capital programme detailed at Appendix 4 to the report for:

     i.    existing projects totalling £4.3 million;

     ii.   new projects totalling £1.7 million.

2.  The virements for the Housing Revenue Account (HRA) capital programme detailed at Appendix 4 to the report for:

     i.    existing projects totalling £3.6 million.

The Cabinet notes:

1.    That there is an intentional ‘over-programming’ of projects to reflect the reality that some projects will inevitably be delayed due to unexpected circumstances or changes to priorities. Over-programming aims to ensure that, as far as possible, the resources available are fully utilised.

2.    That the following capital projects are included in a bid for external European Regional Development Fund grant as part of the Wolverhampton Investment in Smart Energy programme. If successful, and subject to confirmation of grant funding, this could attract up to 40% of external funding that would reduce the amount of internal resources required to fund the Corporate Asset Management programme. Any realised changes in resources as a result of grant confirmation will be reflected in future monitoring reports for approval.

·        Aldersley Leisure Centre (Hockey Pitches) – External lighting to include electrical controls & lighting columns;

·        Bradley Resource Centre – Mechanical Plant upgrade;

·        Civic Centre – Flue replacement.