Decision details

The Director, Finance and Digital Services provided the Cabinet with a proposed three year capital programme for 2021/22 to 2023/24 that if agreed, would be presented to Council for approval.

The Director advised that the proposed three year programme comprised of:

·         A core programme of £42M;

·         In excess of £12M to support the 21st Century Schools Programme;

·         Specific grants of almost £13M; and

·         £27M allocated to investment priorities.

The Leader thanked the Director for the report and commented that the investment proposals were closely aligned to the priorities outlined within the Council’s Corporate Plan.

The Leader continued and advised that the overall Capital Programme would likely significantly increase over the coming months due to a number of pending bids submitted by the Council to Welsh Government.

The Cabinet Member for Corporate Services welcomed the report and commented that the proposals continued the momentum of the ongoing significant investment throughout RCT by the Council.

The Cabinet RESOLVED:

1.    To propose the three year capital programme at Appendix A to Council on 10th March 2021 which includes:

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

·         Proposed reallocation of existing capital resources as detailed in paragraphs 5.5 – 5.8 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.