Agenda item

A report of the Head of Finance and Property Services to consider changes to the current Capital Plan and its financing.

Key Decision

Considered a report of the Head of Finance and Property Services to consider changes to the current Capital Plan and its financing (item 12 on the agenda filed with these minutes).

The Chief Executive and the Strategic Director of Corporate Servicesassisted with consideration of the report.

RESOLVED

1.      that the current Capital Plan for 2018/19 - 2020/21, as amended by the changes shown in Appendix 1 to the report of the Head of Finance and Property Services, in the sum of £32,852,390 be approved;

2.      that it be recommended to Council that the Acquisition of Affordable Housing to meet housing need HRA scheme be increased by the sum of £415k, be added to the Capital Plan in 2020/21 and that it proceeds;

3.      that it be recommended to Council that the Disabled Facilities Grant budget of £448k slippage from 2018/19 to 2019/20 be approved;

4.      that it be recommended to Council that the HRA Bathrooms budget of £426k slippage from 2018/19 to 2019/20 be approved;

5.      that all the slippages detailed in Appendix 1 to the report of the Head of Finance and Property Services be approved;

6.      that it be noted that £25k budget for Hardware Replacement has been brought forward from 2019/20 to 2018/19;

7.      that it be noted that the Old Rectory Museum Toilet scheme totalling £12k has been added to the Capital Plan in 2018/19;

8.      that the Bell Foundry Pocket Park phase 2 scheme to the sum of £22k be added to the Capital Plan in 2019/20;

9.      that the Disabled Facilities Grants scheme be increased by £110k to allow for the Disabled Facilities Grants from the Ministry of Housing, Communities and Local Government to be spent;

10.    that the virement of £210k to the HRA Central Heating and Boiler installation scheme from the HRA Major Structural Works scheme be approved.

Reasons

1.      To enable the Capital Plan to be the basis for capital spending by the Council and so that schemes may proceed.

2.      To confirm that the Acquisition of Affordable Housing to meet housing need HRA scheme, should be increased to the sum of £415k, and that the cost be funded 30% from retained 141 capital receipts and 70% from HRA Reserves.

3.      To enable the scheme budget to be available in 2019/20.

4.      To enable the scheme budgets to be available in 2019/20.

5.      To enable the schemes budgets to be available in 2019/20

6.      To enable additional work to proceed in 2018/19 ahead of schedule. This has been approved by the s151 Officer. The budget has already been approved by Cabinet and it has just been brought forward. It is fully funded.

7.      To enable the installation a toilet in the Old Rectory Museum, Loughborough before the Museum opens in April. This has been approved by the s151 Officer. This is to be funded from virements, then RCCO and then capital receipts.

8.      To allow works at the Bell Foundry Pocket Park to be done to spend S106 monies.

9.      To confirm that the Disabled Facilities Grants scheme be increased and funded by an external grant.

10.    To enable more HRA Central Heating Systems and Boilers to be installed.