Agenda item

That approval of the Capital Programme for 2024/25 to 2027/28 be recommended to full Council as set out in Appendix A to the report.

The Lead Member for Finance, Council Assets, Procurement and Revenues & Benefits introduced a report that set out the Council’s capital programme from 2024/25 to 2027/28.  The Cabinet was being asked to recommend approval of the strategy to full Council on 7^th March 2024.

The programme was for £43m of projects over the next four years.  In accordance with the Cabinet’s commitment that the Council ‘live within its means’, it was stated that no external borrowing was required and that projects were funded from grants, Section 106 contributions and capital receipts from the asset disposal programme.  There were a range of projects in the capital programme which focused on schemes such as Destination Farnham Road, SEND expansion and flood defence works.

The Leader commented that previous capital programmes had been beyond the Council’s ability to deliver and there had been high levels of borrowing and slippage.  He stated that the proposed programme was deliverable and affordable.  The Cabinet discussed a number of the individual projects that were part of the programme such as the DEFRA funding secured for the flood prevention measures for the Salt Hill stream which involved working closely with partners and communities.  The public consultation on Destination Farnham Road had recently closed and approximately 500 responses on issues such as  parking, access and amenities had been received which were now being considered before plans came forward for approval.

The Cabinet discussed the management of the programme and the Executive Director Finance & Commercial stated that additional monitoring would be taking place to improve profiling.

At the conclusion of the discussion the Cabinet agreed to recommend approval of the capital programme to full Council.

Recommended –  That approval of the Capital Programme for 2024/25 to 2027/28 be recommended to full Council as set out in Appendix A to the report.