Decision details

1. That the General Fund Capital Programme is £31.931m for 2011/12 be approved.

2. That a Debt Reduction target of £53.9m by 2015/16 which will reduce underlying debt (Capital Financing Requirement to £78.8m) be approved.

3. That 25% of receipts generated for the decent neighbourhoods programme continue to be used to support general capital investment be approved.

4. To approve the following initiatives within the capital programme:

·         The continuation of the rolling programmes for Corporate Planned Maintenance (£2.5m), repairs to carriageways and footways (£2.1m) , private sector housing grants (£0.45m), Parks Improvements (£0.5m) and contributions to the Invest to Save Fund (£0.750m)

·         The setting aside of £0.250m in reserve for the DDA Programme.

5. That, subject to agreement of the overall programme, prudential borrowing of £5.4m regarding the Schools Capital Strategy, be approved.

6. To note and approve the level of resource forecast (Table 5) and indicative expenditure for the decent neighbourhoods programme as detailed in Appendix 1 and proposed 2011/12 contribution to fund works to the HRA stock of £14.867m from the Decent Neighbourhoods Pot for one year only.

7. That the 2011/12 HRA capital programme as set out in Appendix 3, and subject to appropriate Member approval for un-committed schemes be approved.

8. That the prudential indicators as set out in Appendix 4 to the report be approved.

9. To approve the following annual Minimum Revenue Provision: (Appendix 5).

·         For debt which is supported through Formula Grant this authority will calculate the Minimum Revenue Provision in accordance with current regulations (namely 4% of the Capital Financing requirement net of adjustment A).

·         For debt which has arisen through prudential borrowing it should be written down in equal instalments over the estimated asset life. The debt write-off will commence the year after an asset comes into use.