Agenda item

A report of the Head of Financial Services.

Key Decision

Considered, a report of the Head of Financial Services setting out proposed changes to the 2021/22 - 2022/23 Capital Plan and its financing (item 9 on the agenda filed with these minutes).

The Head of Financial Services assisted with consideration of the report.

RESOLVED

1.      that the current Capital Plan for 2021/22 - 2022/23, as amended by the changes shown in Appendix 1 to the report, in the budgeted sum of £61,491,600 be approved;

2.      that £5.9k be vired in 2021/22 from Meeting Rooms Presentation Screens to Hybrid Council Meeting – Camera and Audio Equipment for new equipment;

3.      that budget be increased for Northgate System – Single Use System by £15k in 2021/22 due to increased scheme costs to be funded from Revenue Contribution to Capital (RCCO) in 2021/22;

4.      that the increase be noted in the Bedford Square Gateway project budgets, in total by £1,843.4k, over 3 years, funded by Town Deal funding, other external funding and capital receipts, in line with the Urgent Delegated Decision 182 2021 on 15th October 2021;

5.      that the Capital Amendment Report 16th Sept 2021 be corrected, The Outwoods Country Park – Visitor Centre and Café to add back £50k in 2021/22, as this had already been taken out in the outturn report;

6.      that a new capital scheme is added to the Capital Plan in 2021/22, Legal Case Management System for £30k, to be funded from capital receipts;

7.      that the Regeneration Project scheme be reduced by £145.4k to release funding back into the Capital Plan Reserve as this is currently not required, currently there is £15m Commitment for borrowing on this scheme;

8.      that additional decisions, taken by Officers, be noted in relation to new S106 schemes added to the Capital Programme also included in Appendix 1 to the report;

9.      that amendments be noted to the Capital Programme since 16th September 2021 Minute 29.

Reasons

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

2.      To enable the Hybrid Council Meeting Camera & Audio Equipment budget to be available in 2021/22.

3.      To confirm that the Northgate – Single Use System scheme be increased which is funded by revenue contributions.

4.      To reflect the Urgent Decision in respect of the Bedford Square Gateway scheme and subsequent reporting to Council at the meeting of 8th November 2021.

5.      To confirm the Outwoods Country Park – Visitor Centre and Café be amended.

6.      To enable the Legal Case Management scheme budget to be available in 2021/22.

7.      To reduce the scheme budget in 2021/22, to replenish the Capital Plan Reserve, as the Regeneration budget is set at £15m Borrowing.

8.      To note the new Capital Schemes as part of S106 Agreements implemented by Officer for 3rd Parties.

9.      To note amendments to the Capital Programme since Cabinet 16th September 2021 Minute 29.

Members of the Cabinet attending virtually confirmed that they would have all voted in favour of the above decision had they been physically present at the meeting and able to do so.