Issue - meetings

[To approve the capital budget outturn 2021-2022 including quarter one capital monitoring 2022-2023]

That Council be recommended to approve:

1.    The revised, medium term General Fund capital programme of £367.8 million, a net increase of £152,000 from the previously approved programme, and the change in associated resources.

That Cabinet approves:

1.    The virements for the General Fund capital programme detailed at Appendix 4 to the report to the report for;

i.   existing projects totalling £4.2 million;

ii.  new projects totalling £1.2 million.

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

i.   existing projects totalling £14.6 million;

ii.  new projects totalling £500,000.

3.    Delegate authority to the Deputy Director of Assets to approve virements from the Provision for future programmes budget within the Corporate Asset Management capital programme to individual schemes in order that corporate priorities can be addressed in an agile and timely manner.

That Cabinetnotes:

1.    That there are two new projects which are subject to separate detailed project reports also on today’s agenda to Cabinet (Resources) Panel meeting. The inclusion of these projects is for budget approval purpose and is on the assumption that the approval to progress with these projects is given. As the progression is dependent on this decision, if the projects are not approved, the capital programme will be reduced accordingly. The name of these projects are;

·        Children’s Residential Homes;

·        Noose Lane to School Street Active Travel Route.

Councillor Obaida Ahmed presented the report on an update on the outturn position for 2021-2022 and on the 2022-2023 financial performance of the General Fund and Housing Revenue Account (HRA) capital programmes, including a revised forecast for 2022-2023 to 2026-2027, as at quarter one of 2022-2023. The report also set out revisions to the current approved capital programmes covering the period 2022-2023 to 2026-2027 for recommendation to Full Council.  Councillor Ahmed said that the report provided further details and updates on key projects such as, the Council had continued to use its capital programmes wisely to invest in the Council’s priorities for the city in regeneration, school buildings, the road network, IT and in its housing estate. The capital programme also included significant investment programmes that aspire to create an environment where new and existing businesses can thrive, people can develop the skills they need to secure jobs and create neighbourhoods in which people are proud to live.

Resolved:

That Council be recommended to approve:

1.    The revised, medium term General Fund capital programme of £367.8 million, a net increase of £152,000 from the previously approved programme, and the change in associated resources.

That Cabinet approves:

1.    The virements for the General Fund capital programme detailed at Appendix 4 to the report to the report for;

i.   existing projects totalling £4.2 million;

ii.  new projects totalling £1.2 million.

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

i.   existing projects totalling £14.6 million;

ii.  new projects totalling £500,000.

3.    Delegate authority to the Deputy Director of Assets to approve virements from the Provision for future programmes budget within the Corporate Asset Management capital programme to individual schemes in order that corporate priorities can be addressed in an agile and timely manner.

That Cabinetnotes:

1.    That there are two new projects which are subject to separate detailed project reports also on today’s agenda to Cabinet (Resources) Panel meeting. The inclusion of these projects is for budget approval purpose and is on the assumption that the approval to progress with these projects is given. As the progression is dependent on this decision, if the projects are not approved, the capital programme would be reduced accordingly. The name of these projects are;

·        Children’s Residential Homes;

·        Noose Lane to School Street Active Travel Route.