Decision details

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

(2)        That the forecast application of usable capital receipts shown in the report, be approved;

(3)        That borrowing of an estimated £8,227,000, necessary to support the General Fund Capital Programme, be noted;

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

(a)          supplementary capital estimates of £56,000 for works to investment properties and £23,000 for the Shopping Park letting fees in 2018/19;

(b)          the inclusion of a supplementary capital estimate of £140,000 for works to let the units at the Landmark Building in 2018/19 and £70,000 for the installation of a new sub-station at North Weald Airfield, pending Cabinet report submission and approval;

(c)          additional allocations of £603,000 relating to the updated five-year planned facility management programme in 2021/22;

(d)          the inclusion of Capital allocations of £1,706,000, including recommendation (b), and £323,000 into 2018/19 and 2019/20 respectively as approved by appropriate delegations;

(e)          savings and reductions totalling £53,000 in 2018/19 and £10,000 in 2019/20 for General Fund projects as identified in the report;

(f)           virements relating to the Accommodation Project, pending approval, of £25,000 in 2018/19 and £400,000 in 2019/20 to be taken from on-hold planned maintenance budgets;

(g)          further virements in 2018/19 of £25,000 and £206,000 in 2019/20 within the General Fund and a transfer of a £33,000 potential saving within the car parking schemes;

(h)          additional allocations, savings, reductions and virements in respect of the Council’s housebuilding programme and other HRA capital schemes as identified in the report; and

(i)            carry forwards totalling £2,294,000 and £7,473,000 from 2018/19 to future years for General Fund and HRA capital schemes respectively, as outlined in the report and Resources Implications table.