Issue - meetings

[To approve the capital programme 2022-2023 to 2026-2027 quarter two review]

That the revised, medium term General Revenue Account capital programme of £338.8 million, an increase of £27.9 million from the previously approved programme, and the change in associated resources be approved.

The Cabinet Member for Resources and Digital City, Councillor Obaida Ahmed, presented the report on Capital Programme 2022-2023 to 2026-2027 Quarter Two Review for approval.

The report provided Council with an update on the 2022-2023 financial performance of the General Fund Account and Housing Revenue Account (HRA) capital programmes whilst also providing a revised forecast for 2022-2023 to 2026-2027 as at quarter two of 2022-2023.

The report recommended revisions to the current approved capital programmes covering the period 2022-2023 to 2026-2027.

The Cabinet Member for Resources and Digital City, Councillor Obaida Ahmed, proposed the recommendation and the Leader of the Council, Councillor Ian Brookfield seconded the recommendation.

The report was debated by Council. Councillor Obaida Ahmed replied to the

debate.

Resolved:

That the revised, medium term General Revenue Account capital programme of £338.8 million, an increase of £27.9 million from the previously approved programme, and the change in associated resources be approved.

[To approve the capital programme 2022-2023 to 2026-2027 quarter two review]

That Council be recommended to approve:

1.    The revised, medium term General Revenue Account capital programme of £338.8 million, an increase of £27.9 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 £2.8 million.

     ii.   new projects totalling £899,000.

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

     i.    existing projects totalling £15.3 million.

That Cabinet notes:

1.    That there are two separate reports also on today’s agenda, titled as follows:

·        Secondary School Expansion Programme 2023

·        Stow Heath Primary School Proposed Resource Base

These reports are not currently seeking budget approval, however, they are seeking approval to delegate authority to allocate budgets once further detail is known.  Any approvals would be built into future reports to councillors.

Councillor Obaida Ahmed presented the report on an update on the 2022-2023 financial performance of the capital programmes as at quarter two for both the General Fund and the Housing Revenue Account, including a revised forecast for 2022-2023 to 2026-2027. 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 informed Cabinet that the Council continued to use the capital programme wisely to invest in the Council’s priorities for the city in regeneration, school buildings, the road networks, ICT and the housing estate. The capital programme includes significant investment programmes that endeavoured to create an environment where new and existing businesses could thrive, people could develop skills they needed 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 Revenue Account capital programme of £338.8 million, an increase of £27.9 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 £2.8 million.

     ii.   new projects totalling £899,000.

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

     i.    existing projects totalling £15.3 million.

That Cabinet notes:

1.    That there are two separate reports also on today’s agenda, titled as follows:

·        Secondary School Expansion Programme 2023

·        Stow Heath Primary School Proposed Resource Base

These reports are not currently seeking budget approval, however, they are seeking approval to delegate authority to allocate budgets once further detail is known.  Any approvals would be built into future reports to councillors.