Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
To outline the changes to the Council's
Capital Programme 2021/22.
To outline the Council's proposed Capital Programme 2022/23 to 2026/27.
To outline to Members the risks of borrowing to finance the Capital Programme and its long term impacts on the longer term financial sustainability of the Council and Treasury Management Strategy.
Consideration was given to a report of the Cabinet Member for Finance and Corporate / Chief Finance Officer outlining changes to the Council’s Capital Programme 2021/22. The 2021/22 programme has been increased to £107.3m. The base budget of £57.2m agreed at Budget Council March 2021 has been increased by £94.7m of budget rephased from previous years, £11.7m of capital budget changes, and reduced by £56.3m of budget that has been reviewed and rephased into future years
A number of alternative elements of the Capital Programme were considered in the development of the programme as set out within the submitted report, the recommendations presented was of the most strategic/community value and aligned with the Council’s priorities.
1. That the proposed changes to the Capital Programme 2021/22 be approved.
2. That the Capital Programme 2022/23, and provisional programmes for 2023/24 to 2026/27, as a basis for consultation, subject to confirmation of grant funding allocations, be approved.
3. That the proposal to delegate approval to spend of the £6m Investment scheme (held for urgent capital spend) to the Chief Finance Officer in consultation with the Portfolio Holder for Finance, be approved.
Reason for recommendation
Cabinet members are required to recommend a balanced 2022/23
Budget to Council, and provisional budgets for 2023/24 to 2024/25, 2026/27.
Report author: Yvonne Dunease
Publication date: 24/12/2021
Date of decision: 23/11/2021
Decided at meeting: 23/11/2021 - Cabinet