Decision details

To note the latest information on the council’s capital budget for 2017-18, including the financing of this programme.

RESOLVED:

1.  That  the general fund capital programme for the period 2017-18 to 2026-27 as at Month 4, as detailed in Appendices A and D of the report and the £170.6m financing required for 2017-18 be noted.

2.  That the housing investment programme for the period 2017-18 to 2026-27 as at Month 4 2017-18, as detailed in Appendix B of the report and the £13.18m financing required for 2017-18 be noted.

3.  That the virements and variations to the general fund and housing investment capital programme as detailed in Appendix C of the report be approved.

4.  That the projected expenditure and resources for 2017-18 and future years for both the general fund and housing investment programmes as detailed in Appendices A, B and D of the report as at month 4 2017-18  be noted and this position will be updated during the year when more up to date information is available.

5.  That the inclusion in the programme of the capital bids set out in Appendix E of the report be approved.

6.  That it be noted this report indicates that external borrowing will be required in 2017-18 to finance the programme. Options to identify the most appropriate source of financing will be appraised by the strategic director, finance and governance in conjunction with the cabinet member for finance, modernisation and performance.

7.  That in the event of additional resources being required for Ledbury Estate, authority be delegated to the strategic director of finance and governance for identifying resources to be made available in a timely way (in consultation with the cabinet member for finance, modernisation and performance and the cabinet member for housing).