Agenda item

Pursuant to Cabinet Minute No.66 the Director of Finance and Resources submitted a report providing an update on the General Fund Capital Programme.

The Capital Programme for 2017/18 had been approved as part of the budget setting process in February 2017 and included two major capital schemes, the Town Hall alterations and the Northern Gateway project.

The report provided details on the progress of current major capital schemes including the Town Hall alterations, the Northern Gateway and, in particular, the Saltergate multi-storey car park refurbishment, Peak Resort, Chesterfield Museum store and Waterside, along with details of new schemes which had recently been approved or would be reported to Cabinet for approval in the near future. The report also gave information on the financing of the schemes and details of capital receipts for the current year, as well as forecasts of receipts for subsequent years.

RESOLVED -

1.    That the updated General Fund Capital Programme expenditure and financing arrangements, as set out in Appendix A to the officer’s report, be approved.

2.    That the new capital schemes, as outlined in paragraph 6.1 of the officer’s report, be noted.

3.    That the proposal to undertake further work to finalise the strategy document required to take advantage of the Government’s capital receipts flexibility rules, as detailed in paragraphs 5.3 and 6.1 of the officer’s report, be approved.

4.    That the proposal to defer the repayment of prudential borrowing from capital receipts, including that in respect of the Queens Park Sports Centre and Market Hall refurbishment projects, as set out in paragraphs 5.4 and 7.1 of the officer’s report, be approved.

5.    That the proposed changes to the methods used to finance current schemes, as set out in paragraph 5.7 of the officer’s report, be approved.