RESOLVED:
1. That the current monitoring position for the capital programme 2009/10 – 2015/16 for both the General Fund (as at September 2009) and Housing Investment Programme (as at November 2009) be noted. See appendices A and B of the report respectively.
2. That the current situation with the updated primary school programme as described within paragraphs 26-35 of the report be noted.
3. That for the General Fund, the level of forecast capital resources projected for the period 2009-18 (£593m) compared to the current estimated cost of the existing programme (£490m), an increase of £103m in new resources be noted.
4. That the value of the new capital bids under review (£174m, General Fund only), see appendix C of the report be noted.
5. That the list of contractual obligations, health and safety pressures and identified high priorities including invest to save schemes (appendix C items 1-14 costing £58.2m) be funded from new capital reserves.
6. That the finance director provide more detailed options analysis and financial appraisals on the remaining bids received (items 15-34 costing £115m) for future consideration by the executive in the context of resources available and considering any additional resources which can be identified.
7. That the current position regarding the Elephant and Castle regeneration scheme and the signing of the Heads of Terms paper with the partner organisation Lend Lease be noted.
8. That the finance director submit quarterly monitoring reports to the executive in line with revenue monitoring to include regular updates on resource planning and availability to fund the programme and emerging priorities.
9. That the analysis of the overall position regarding resources and commitments be noted (see appendix D of the report) and that it also be noted that work is in progress to fully justify the position and will form part of the follow-up report in conjunction with point 6 above.
10. That the increased funding pressures for the Housing Investment Programme (outlined in paragraph 58 of the report) which have resulted in slippage to the programme in the short-term be noted and that efforts will be made to correct the slippage in the light of the longer term resourcing strategy.