• Decision details
  • Decision details

    Decision Maker: Cabinet

    Decision status: Recommendations Approved

    Is Key decision?: No

    Is subject to call in?: No

    Decisions:

    The Director, Finance and Digital Services provided the Cabinet with the proposed three year Capital Programme for 2020/21 to 2022/23.

     

    The Director advised that the proposed three year programme represents a total investment of £131.772M and comprises:

    ·         A core programme of £42.300M over the next three years;

    ·         Prudential borrowing of £20.249M to support the 21st Century Schools Programme, Llys Cadwyn Development and Highways improvement schemes;

    ·         Specific grants of £16.819M;

    ·         Earmarked reserves and revenue contributions previously allocated to schemes and investment priorities of £29.223M;

    ·         Capital receipts, in addition to the 3 year core allocation, of £10.283M; and

    ·         Additional and reallocated earmarked reserves of £1.658M and additional prudential borrowing of £7.500M to fund the investment priorities, alongside the one of Welsh Government capital funding of £2.692M.

     

    In respect of the £1.658M of earmarked reserves, which in addition to the prudential borrowing make a total of £11.850M, the Director spoke of the numerous investment opportunities for the infrastructure, which would support the new Corporate Plan priorities.

     

    Members spoke positive of the report, commenting on the previous significant investment undertaken by RCT and the ambition to further invest.

     

    The Cabinet RESOLVED:

    1.    To propose the attached three year capital programme at Appendix A to Council on 4th March 2020 which includes:

    ·         A review and proposed release of earmarked reserve balances as detailed in paragraph 5.3 of the attached report;

    ·         Proposed investment priorities as detailed in paragraph 6.2 of the attached report;

    ·         The Council’s core capital programme;

    ·         The Council’s total capital programme including additional non core funding.

     

    2.    To authorise the Director of Finance and Digital Services to amend the level of Council Resources required to fund the Core Three Year Capital Programme as shown at Appendix 2 as a consequence of any change to the Council’s capital resource levels announced in the Final Local Government Settlement.

     

    Urgent item?: Yes

    Publication date: 20/02/2020

    Date of decision: 20/02/2020

    Decided at meeting: 20/02/2020 - Cabinet

    Accompanying Documents: