Issue - meetings

Finance, Qualis Client & Economic Development – (C-021-2021-22) – review an updated Capital Programme for 2022/23 to 2026/27.

1)         The Cabinet noted the report, including both the updated General Fund and Housing Revenue Account Capital Programmes (2022/23 to 2026/27) at Appendix A; and

2)         The Cabinet discussed and agreed actions required (in the context of the updated Medium-Term Financial Plan) for the further refinement of the Capital Programme as part of developing integrated draft budget proposals for further consideration by Cabinet in December 2021.

The Finance, Qualis Client and Economic Development Portfolio Holder, Councillor Philip introduced the report. He noted that the Cabinet approved an updated Financial Planning Framework (2022/23 to 2026/27) at its meeting on 13th September 2021 and committed to receiving and considering an updated Capital Programme for 2022/23 to 2026/27. This provided essential context and was a key part of early budget preparations for 2022/23.

The updated (indicative) Capital Programme was in two parts and comprised total investment of £277.834 million (General Fund £107.537 million, Housing Revenue Account £170.297 million) over the five-year period 2022/23 to 2026/27.

The purpose of this report was to present and provide context for consideration by Members – alongside the Medium-Term Financial Plans (for both the General Fund and Housing Revenue Account) – an indicative draft Capital Programme for 2022/23 to 2026/27.

Councillor H Whitbread noted that she was currently in discussion with the HRA Project Director on the HRA business plan.

Decision:

1)         The Cabinet noted the report, including both the updated General Fund and Housing Revenue Account Capital Programmes (2022/23 to 2026/27); and

2)         The Cabinet discussed and agreed actions required (in the context of the updated Medium-Term Financial Plan) for the further refinement of the Capital Programme as part of developing integrated draft budget proposals for further consideration by Cabinet in December 2021.

Reasons for Proposed Decision:

To provide an updated (initial) draft Capital Programme for the Cabinet’s consideration, to allow discussion and direction in the further development of the Programme in order to balance the need to deliver on the Council’s corporate priorities, whilst maintaining a balanced budget and achieving long-term financial sustainability.

Other Options:

There are no matters for decision in this report.