Decision details

To seek approval for the revised 5 year Capital Programme and funding forecast.

(1)        That the latest five-year forecast of capital receipts be noted;

(2)        That the intention to spend all usable capital receipts in their year of receipt, where possible, be approved;

(3)        That external borrowing of an estimated £28,382,000, necessary to support the General Fund Capital Programme, be noted;

(4)        That the following amendments to the Capital Programme be recommended to the Council for approval:

            (a)        a supplementary capital estimate in the sum of £741,000 for the       Epping Forest Shopping Park development;

            (b)        a supplementary capital estimate in the sum of £52,000 for the         surrender of a lease by Glyn Hopkins Ltd in Waltham Abbey; and

            (c)        a supplementary capital estimate in the sum of £20,000 for the         installation of CCTV systems in Council-owned car parks during 2017/18;

(5)        That the following additional amendments to the Capital Programme be approved:

            (a)        an additional allocation in the sum of £161,000 for Grounds Maintenance vehicles in 2018/19;

            (b)        an additional allocation in the sum of £13,000 for Flood Alleviation   schemes in 2018/19;

            (c)        an additional allocation in the sum of £350,000 for further investment           in the superfast broadband network in 2019/20, subject to a further report to   the Cabinet upon completion of the tender process;

(d)        the identified savings in the sum of £308,000 for 2017/18 and in the sum of £24,000 for 2018/19 for General Fund projects;

            (e)        virements in 2017/18 in respect of:

                        (i)         £48,000 within the General Fund car parking allocation to                 upgrade to LED lights from the Lee Valley Car Park and 4G Pay-and-                      Display installation budgets; and

                        (ii)        £15,000 to CCTV systems from Planned Maintenance and              Flood Alleviation Schemes budgets;

            (f)         the identified additional allocations, savings and virements in respect           of the Council’s Housebuilding and Conversion programme and other Housing Revenue Account capital schemes;

            (g)        carry forwards totalling £1,956,000 from 2017/18 to 2018/19 in respect        of the General Fund Capital schemes listed below:

                        (i)         Planned Maintenance                         £583,000;

                        (ii)        General ICT                                        £101,000;

                        (iii)       Hillhouse Development                       £130,000;

                        (iv)       Town Mead Depot                               £130,000;

                        (v)        Car Parking Schemes                         £161,000;

                        (vi)       NWA Vehicle Compound                    £12,000;

                        (vii)      Flood Alleviations Schemes                £19,000;

                        (viii)     CCTV Systems                                   £57,000;

                        (ix)       Housing Estate Parking Schemes      £510,000; and

                        (x)        Parking Review Schemes                   £253,000;

            (h)        carry forwards totalling £5,553,000 from 2017/18 to 2018/19 in respect        of the Housing Revenue Account Capital schemes listed below:

                        (i)         New Housebuilding                             £3,207,000;

                        (ii)        Structural Schemes                             £475,000;

                        (iii)       Housing Estate Parking Schemes      £431,000;

                        (iv)       Oakwood Hill Estate                            £200,000;

                        (v)        Oakwood Hill Depot                            £1,090,000; and

                        (vi)       Front Door Replacements                   £150,000; and

(i)         in respect of Ground Maintenance vehicles within the General Fund, a sum of £10,000 to be brought forward to 2017/18.