Decision details

The Chief Officer (Financial Services) submitted a report providing an update on the Capital Programme position as at Quarter 2 of the financial year. In addition, the report also sought some specific approvals in relation to funding injections.

RESOLVED –

(a)  That the latest position on the General Fund and Housing Revenue Account (HRA) Capital Programmes, as at quarter 2 of the financial year and as detailed within the submitted report, be noted;

(b)  That the net increase in the General Fund and HRA Capital Programme 2019-2023 of £115.2m since the Capital Programme setting in February 2019, be noted, with it also being noted that these injections and movements are listed in Appendix D to the submitted report and that £21.3m of schemes require injection approval as part of this report;

(c)  That it be noted that the borrowing required to fund the Capital Programme in 2019-20 has reduced by £52.6m since the Capital Programme setting in February 2019, with it also being noted that the Capital Programme remains affordable within the approved debt budget for 2019-20, and that further work is underway through regular Capital Programme reviews to ensure that future debt costs are maintained within the overall medium term financial strategy;

(d)  That the following £21.3m worth of injections into the Capital Programme, as set out below and as detailed within Appendix D to the submitted report, be approved:-

·  £7.347m East Leeds Orbital Road additional grant from WYCA

·  £2.814m Devolved Formula Capital (DFC) additional grant from govt

·  £2.376m NE Leeds Junction Improvements, grant from WY+TF

·  £2.062m HRA net revenue contributions

·  £1.967m Learning Places Programme, S106 funding

·  £1.885m Leeds city Centre Network Ph1, grant from WYCA

·  £1.506m SEND Special Provision Fund Top Up Grant

·  £0.392m Outer Ring Road Pudsey to Horsforth grant from WYCA

·  £0.22m Community Hepatology Programme, Public Health Grant

·  £0.158m Flood Risk Hawthorn Terrace, Highways Agency Grant

·  £0.111m TV & Film Studio, stamp duty obligation

·  £0.463m Other smaller scheme, grants and contributions

(e)  That it be noted that the decision to inject funding, as detailed at resolution (d) above, will be implemented by the Chief Officer, Financial Services;

(f)  That the review of Capital Programme pressures from 2020/21 onwards together with the prioritisation of proposals for consultation and inclusion in the February 2020 Capital Programme update to Executive Board, as shown in Appendix F to the submitted report, be noted.