Agenda item

*RESOLVED -

That it be recommended to Full Council that:

1.   The Capital Strategy be approved.

2.   The updated General Fund Capital Programme expenditure and financing be approved.

3.   The new Capital Programme schemes, as outlined in paragraph 8.3 of the Director of Finance and Resources report be noted, with their approval subject to satisfactory business cases being made and subsequent Cabinet and/or Council agreement.

4.   The prioritised list of “waiting list” Capital Programme, as outlined in paragraph 8.4 of the Director of Finance and Resources report, be noted.

REASON FOR DECISIONS

To update the Council’s General Fund Capital Programme and ensure that it is affordable and deliverable over the medium term.

The Director of Finance and Resources submitted a report recommending for approval the updated General Fund Capital Strategy and Programme for the financial year 2017/18.

The report provided details of:

·        The updated Capital Strategy.

·        Updated Capital Programme forecasts.

·        Schemes added to the Programme during 2016/17, including the Town Hall restack and Northern Gateway scheme.

·        Progress made on current major schemes including Chesterfield Waterside.

·        Recurring schemes including expenditure on Disabled Facilities Grants, vehicle and plant maintenance, ICT and major property repairs.

The report also provided details of capital financing arrangements, capital receipts and the net financing position.

The Director of Finance and Resources advised that based on current forecasts there would be no surplus resources available to fund new capital schemes until 2020/21. In this situation new schemes would only be able to be added to the Programme where they were aligned with a Corporate Plan priority and the additional funding required had been identified and secured. Where the funding could not be immediately identified schemes would be added to a prioritised list of growth requests and added to the Capital Programme as resources become available.

*RESOLVED -

That it be recommended to Full Council that:

1.   The Capital Strategy be approved.

2.   The updated General Fund Capital Programme expenditure and financing be approved.

3.   The new Capital Programme schemes, as outlined in paragraph 8.3 of the Director of Finance and Resources report be noted, with their approval subject to satisfactory business cases being made and subsequent Cabinet and/or Council agreement.

4.   The prioritised list of “waiting list” Capital Programme, as outlined in paragraph 8.4 of the Director of Finance and Resources report, be noted.

REASON FOR DECISIONS

To update the Council’s General Fund Capital Programme and ensure that it is affordable and deliverable over the medium term.