Issue - meetings

This report sets out proposals in respect of the capital programme, together with ancillary issues.

8.30pm - The report and recommendations were moved for adoption by the Leader of the Council, Councillor Stephen Greenhalgh.

Speeches on the report were made by Councillors Lisa Homan and Stephen Cowan (for the Opposition) and Councillor Stephen Greenhalgh (for the Administration).

The report and recommendations were put to the vote: 

FOR                            25

AGAINST                   13

NON VOTING            0

The report and recommendations were declared CARRIED.

8.44pm -  RESOLVED:

(1)         To approve the General Fund Capital Programme budget at £72.722m for 2012/13.

(2)         To approve a Debt Reduction target of £44.1m by 2016/17 (since 2011/12) which will reduce underlying debt - as measured by the Capital Financing Requirement - to £77.7m.

(3)         To approve that 25% of receipts generated for the decent neighbourhoods programme continue to be used to support general capital investment in 2012/13.

(4)         To approve the following initiatives within the capital programme (Table 4 of the report):

·              The continuation of the rolling programmes for repairs to Carriageways and Footways £2.1m;

·              Corporate Planned Maintenance £2.5m;

·              Private Sector Housing Grants £0.45m;

·              Parks Improvements £0.5m;

·              Contributions to the Invest to Save Fund £0.75m; and

·              The Re-provision of Services from Sands End Community Centre £0.22m.

This totals £6.52m.

(5)         To note and approve the level of resource forecast (Table 2 of the report) and indicative expenditure budget 2012/13 of £13.043m for the Decent Neighbourhoods programme as detailed in Appendix 1 of the report; and 2012/13 contribution to fund works to the HRA stock of £8.82m from the Decent Neighbourhoods Pot (schemes under consideration).

(6)         To note the 2012/13 HRA capital programme of £37.42m as set out in Table 6 of the report.

(7)         To approve the following annual Minimum Revenue Provision (Appendix 5 of the report).

·              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.

(8)         To approve the prudential indicators as set out in Appendix 6 of the report.

1. That the General Fund Capital Programme budget at £72.722m for 2012/13 be approved .

2. That a Debt Reduction target of £44.1m by 2016/17 which will reduce underlying debt - as measured by the Capital Financing Requirement - to £77.7m be approved.

3. That 25% of receipts generated for the decent neighbourhoods programme continue to be used to support general capital investment in 2012/13 be approved.

4. That the following initiatives within the capital programme (Table 4):
   • The continuation of the rolling programmes for repairs to Carriageways and Footways £2.1m, Corporate Planned Maintenance £2.5m, Private Sector Housing Grants £0.45m, Parks Improvements £0.5m, contributions to the Invest to Save Fund £0.75m and the Re-provision of Services from Sands End Community Centre £0.22m which totals £6.520m be approved.

5. That the level of resource forecast (Table 2) and indicative expenditure budget 2012/13 of £13.043m for the Decent Neighbourhoods programme as detailed in Appendix 1; and 2012/13 contribution to fund works to the HRA stock of £8.820m from the Decent Neighbourhoods Pot (schemes under consideration) and approved.

6. That the 2012/13 HRA capital programme of £37.420m as set out in Table 6 be noted.

7. That the following annual Minimum Revenue Provision (Appendix 5) be approved:-

1. That the prudential indicators as set out in Appendix 6 of the report be approved.