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Decision details

Setting the Capital Budget Report 2020/21 to 2022/23 (EX/20/07)

Decision Maker: Executive

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Decisions:

Decision that:

 

1.    the revised Capital Budget for 2019/20 of £10,866k as set out in section 7, be noted.

 

2.    the forecast capital spend for 2019/20 of £9,672k as set out in section 8, be noted .

 

3.    the draft capital programme 2020/21 to 2022/23, amounting to £7,981k over the three year period, be considered and agreed:

4.    the additions to the capital programme amounting to £4,040k, as set out in section 9 and detailed in Appendix B to the report;

5.    the profiled budget over the next three years as £6,073k in 2020/21, £1,218k in 2021/22 and £690k in 2022/23 section 10, table 5 to the report;

 

6.    the draft three-year capital programme 2020/21 to 2022/23 be recommended to the meeting on 28 January 2020 of the Policy Review and Operations Review Committees and to all Members, stakeholders and the public for consultation.

 

7.    it be noted that the Capital Strategy 2020 (paragraph 5.2 and Appendix C refers) has been updated to reflect the draft capital programme and that this strategy be approved for consultation.

    1. To present the draft 2020/21 budget including the latest MTFP to the Executive for their consideration and to seek their approval to recommend the draft budget for stakeholder consultation.

 

Reasons for Decision

 

The Council has a statutory obligation (as specified in the CIPFA Prudential Code) to make estimates of the total capital expenditure it plans to incur during the forthcoming year and the following two financial years to facilitate prudent, affordable and sustainable capital investment decisions.

 

The procedure agreed by full Council for setting the capital budget is that capital bids are firstly critically appraised by the Asset Management Panel in conjunction with officers prior to recommendation for inclusion in the capital programme.

 

The Council’s constitution also requires that the Policy Review Committee and Members of the Council be consulted on the capital budget at least four weeks prior to the Executive recommending that Council adopts the budget.

 

In order to comply with these requirements, the adoption of the 2020/21 – 2022/23 Capital Budget will follow the timetable in the report of Officers:

 

ALTERNATIVE OPTIONS Considered and Rejected

 

The Executive may decide to recommend that full Council adopt an alternative capital budget to that presented in Appendix A and recommend to full Council that any of the individual bids for funding presented not be approved.  However, these options could adversely affect the Council’s ability to provide its services and/or make efficiencies going forward.

 

Report author: Philip Lui, Matthew Bunyon

Publication date: 21/01/2020

Date of decision: 15/01/2020

Decided at meeting: 15/01/2020 - Executive

Accompanying Documents: