Issue - decisions

Capital Programme 2012/13 to 2016/17

 

 

31/01/2012 - Capital Programme 2012/13 to 2016/17

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

 

  1. 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.

 

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

 

  1. 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.

 

  1. 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.

 

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

 

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

 

  • 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.

 

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