Issue - meetings

To note the forecast outturn and resources and approve the virements and variations to the general fund and housing investment capital programme and the new capital bids and related recommendations.

It was not possible to circulate the report five clear days in advance of the meeting due to the continued monitoring and review of the financial impact of the pandemic on the council’s overall capital programme and financial position. The chair agreed to consider this item urgently as the council regularly updates cabinet on the capital monitoring position.  This was important in the current circumstances of the Covid-19 pandemic, and its financial impact on the councils overall financial position. 

RESOLVED:

1.  That the forecast outturn and resources for 2021-22 and future years for both the general fund and housing investment programmes as detailed in Appendices A, B and D of the report be noted.

2.  That virements and variations to the general fund and housing investment capital programme as detailed in Appendix C of the report and the new capital bids contained within the report and summarised at Appendix E of the report be approved.

3.  That the significant funding requirement of £305m which needs to be identified for the general fund programme to be fully delivered over the remaining term of the programme, as detailed in Appendix A of the report be noted.

4.  That the borrowing requirement of at least £1bn for future years for the housing investment programme to be fully delivered over the remaining term of the programme, as detailed in Appendix B of the report be noted.

5.  That the significant contribution the capital programme is making towards the objectives of the council’s climate change strategy (see paragraphs 19-20 of the report) be noted.