Agenda item

Capital Programme 2023/24 to 2027/28

Decision:

Agreed to recommend approval of the Capital Programme for 2023/24 to 2027/28 to full Council as set out in the report and Appendix A.

Minutes:

The Lead Member for Financial Oversight & Council Assets introduced a report that set out the proposed capital programme for the period 2023/24 to 2027/28.

 

The strategy had been refocused on improvement works to operational assets and public realm works.  The aim was to rationalise the capital portfolio, ensure necessary works to maintain the condition of retained assets and minimise other works.  The impact was a reduced programme totalling £102m which was fully funded and would not require any additional borrowing.  The programme was fully funded through grants, Section 106 contributions and capital receipts from the asset disposal programme, which was key element of the Council’s corporate and financial strategy.  Future disposals were crucial to help reduce borrowing and MRP.

 

The Cabinet commented that the programme was still relatively large and included some important transport, infrastructure and education schemes.  Members asked how the programme would be properly managed to minimise slippage and Officers commented on the steps being taken to ensure schemes were delivered.

 

Councillor Smith addressed the Cabinet and commented on the proposed additional loan of £5m to GRE5 for works to address fire safety issues at Nova House.  The Executive Director Finance & Commercial stated that a full report would be provided to Cabinet in March and the capital programme made the necessary provision if the proposals in that report were agreed.

 

At the conclusion of the discussion it was agreed to recommend the capital programme to Council.

 

Recommended –  That the Capital Programme for 2023/24 to 2027/28 as set out in the report and Appendix A be approved.

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