Issue - meetings

To consider the report of the Chief Officer (Financial Services) providing an update on the current position of the Council’s Capital Programme as at quarter 2 of 2018/19. The report seeks some specific approvals in relation to funding injections and ‘authority to spend’.

The Chief Officer (Financial Services) submitted a report providing an update on the current position of the Council’s Capital Programme as at Quarter 2 of 2018/19. The report sought some specific approvals in relation to funding injections together with a related ‘authority to spend’.

RESOLVED -

(a)  That the latest position, as at quarter 2 on the General Fund and HRA Capital programmes, be noted;

(b)  That the net increase in the General Fund and HRA Capital Programme 2018-2022 of £109.3m since the Capital Programme update in February 2018, be noted; with it also being noted that these injections and movements are listed in Appendix D to the submitted report, and that £13.574m of schemes require injection approval, as part of the submitted report;

(c)  That it be noted that the borrowing required to fund the Capital Programme in 2018-19 has reduced by £13.8m since the Capital Programme setting in February 2018; with it also being noted that the Capital Programme remains affordable within the approved debt budget for 2018-19, 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 £13.574m worth of injections into the Capital Programme, as detailed below and as set out in Appendix D of the submitted report, be approved:-

·  £3.402m affordable Housing commuted sums;

·  £2.550m Killingbeck Meadows flood alleviation grant;

·  £2.000m Section 278 housing developments;

·  £0.753m SEND special provision grant;

·  £0.735m A65 Leeds Bradford airport link route grant;

·  £0.669m adaptations to private sector additional 18/19 grant;

·  £0.516m Royal Park Greenspace Enhancements Section 106;

·  £0.500m of additional loan funding towards the new supply of affordable housing on the 24 unit scheme being developed at Headley Chase;

·  £0.490m Kirkgate Market short stay car park;

·  £0.300m fuel poverty fund;

·  £0.300m Silk Mill Drive demolition Insurance receipt;

·  £0.284m capital receipts incentive scheme (CRIS), as detailed at Appendix E to the submitted report;

·  £1.075m remaining 8 smaller schemes, as listed in Appendix D to the submitted report.

(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 expenditure of £0.500m towards new supply affordable housing on the 24 unit scheme being developed at Headley Chase, be authorised.