Issue - meetings

A report from the Director of Finance, Resources and Customer Services is attached. This informs Members of the current position up to the end of June 2014 regarding the Council’s capital programme (2014-18). (Key decision – reference number 3954)

(Report No.50)

(8.25 – 8.30pm)

Councillor Andrew Stafford (Cabinet Member for Finance) introduced the report of the Director of Finance, Resources and Customer Services (No.50) informing Members of the current position up to the end of June 2014 regarding the Council’s Capital Programme (2014-18).

NOTED

1.      The additions and updated expenditure profile to the 2014/15 Capital Programme, as detailed in Section 4 (Tables 1 and 2) of the report.

2.      The ambitious nature of the Capital Programme and key projects programmed for 2014/15, as detailed in section 4 of the report.

3.      The assurance provided by External Audit in relation to the Council’s Capital Treasury Management and Prudential Indicators.

4.      The progress updates provided in relation to the following specific schemes on the Capital Programme:

·                Park Avenue Resource Centre (Mental Health & Wellbeing Centre)

·                Forty Hall Park Landscape Project;

·                Meridian Water Boulevard;

·                Broomfield House Restoration;

·                Palmers Green Library

·                Joint Service Centre – Hertford Road;

5.      The ongoing progress in delivery of Phase I and II of the School Expansion Programme, which members felt represented a significant achievement not only in terms of funding but also development activity.

Alternative Options Considered: None stated.

DECISION: Cabinet agreed

1.            The additions to the General Fund Capital Programme totalling £2,753k in 2014/15 and HRA Programme totalling £2,215k (Table 1 – to be primarily funded from grants, contributions and earmarked resources) and noted that this would not materially increase capital financing costs.

2.            The updated four year programme including proposed reductions subject to indicative estimates included in later years (as detailed in Section 5 of the report).

Reason: To inform Members of the current position up to the end of June 2014. (Key decision – reference number 3954)