Issue - meetings

To note the capital investment for the general fund and housing investment programme for 2015/16. To approve virements and variations to the general fund and housing investment programme and the re-profiling of the budgets in line with projected expenditure for future years.

RESOLVED:

1.  That it be noted that during 2015-16 there was a capital investment in the borough of £70.66m for general fund and £243.6m for the housing investment programme (HIP).  This represents a 44% increase in investment in housing when compared to previous years.

2.  That the 2015-16 capital investment in delivering the fairer future promises set out in paragraphs 12-20 of the report be noted.

3.  That for 2015-16, it be noted that the general and housing capital programmes has been fully funded from capital receipts, reserves, revenue, planned use of capital reserves, section 106 funds and external contributions. There was no additional borrowing required.

4.  That the general fund capital programme for the period 2016-17 to 2024-25 total programme of £527.88m detailed in Appendices A and D of the report be noted.  Resources of £98.31m to be identified to fund this programme over this period. 

5.  That the housing investment programme for the period 2016-17 to 2024-25 of £1,147.8m as detailed in Appendix B of the report be noted; and that work is ongoing to ensure this programme is fully funded.

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

7.  That the re-profiling of the budgets in line with projected expenditure for  future years for both the general fund and housing investment programmes as detailed in Appendices A, B and D of the report be approved.