Report of Strategic Director (Finance and Resources) attached

The Cabinet considered a report of the Strategic Director (Finance and Resources) setting out a draft programme of capital investment for the period 2019/20 to 2023/24.

Resolved:

1. That the current approved programme for 2019/20 to 2021/22 of £153.1m as set out in Appendix 1 to the submitted report, be noted.

2. That the Capital Investment Strategy for 2019/20 to 2023/24, as set out in Appendix 2 to the report, be approved.

3. That the following be approved:

(i) New schemes and additions to the Capital Investment Programme for the period 2019/20 to 2023/24 totalling £14.5m for the General Fund and £20.8m for the Housing Revenue Account (Appendix 6 to the submitted report);

(ii) Schemes subject to external funding approval for the period 2019/20 to 2020/21 totalling £3.0m (Appendix 6 to the report);

(iii) Schemes subject to viable business cases for the period 2019/20 to 2021/22 totalling £48.6m (Appendices 6 and 7 to the report).

4. That it be noted that the changes to the approved Programme will result in a proposed Capital Investment Programme of £177.0m for 2019/20 to 2023/24, as set out in Appendix 7 to the report, of which £70.7m is supported by external funding.

5. That it be noted that a final review is being undertaken on the 2018/19 projected outturn and the results will be included in the report to Cabinet on 12 February 2019.

Reasons for decision:

The Capital Investment Programme is compiled from a number of individual projects which either contribute to the delivery of the Council’s ambition and desired outcomes or enhance the Council’s infrastructure.

Other options:

The Capital Investment Programme is compiled from a number of individual projects, any of which can be agreed or rejected independently of the other projects.

Note: This is an Executive Function save that approval of the final budget following Cabinet on 12 February 2019 is a Council Function.

Referred direct to all three Scrutiny Committees

Cabinet Member: Cllr Lamb