Issue - meetings

A report from the Executive Director – Resources is attached. (Key decision – reference number 5201)

Councillor Mary Maguire (Cabinet Member for Finance and Procurement) introduced the report of the Executive Director – Resources informing Members on the current position (as at the end of September 2020) of the Council’s 10 year capital programme 2020/21 to 2029/30, considering the latest information available for all capital schemes including the funding arrangements.

NOTED

1.            That the report showed the 2020/21 forecast year end expenditure for the approved programme was projected to be £253m: £128m General Fund, £89m Housing Revenue Account (HRA) and £35m for Enfield Companies.

2.            That Appendix B to the report listed the projects where individual delegated approvals were still required for “requested additions” to the capital programme.

3.            That the main impact of Covid-19 on the capital programme had been reduced expenditure and a reprofiling of 54% of the 2020/21 revised budget reflecting changes regarding the forecast timing of expenditure of programmes between financial years.

4.            That the report analysed the budget reprofiling with explanations for the significant items within the General Fund programme (paragraphs 28 to 41 of the report referred).

5.            That table 3 of the report outlined the approved additions to the capital programme.

6.            The wide-ranging, comprehensive and ambitious capital programme as set out in the report. Several of the projects were highlighted for Members’ attention.

7.            The ways in which the Capital Programme was financed as set out in detail in the report.

8.            The HRA 10-year capital programme as set out in the report covering a range of projects including the provision of new and affordable homes in the Borough and significant regeneration works which also resulted in the provision of employment for local people.

9.            That the ongoing impact of the pandemic would be closely monitored and reflected in future reports.

Alternative Options Considered: Not applicable in the context of this report.

DECISION: The Cabinet agreed

1.            To note the inclusion of the following capital programmes which had been granted approval to spend and updated grant funding in the Council’s 10-year capital programme.

·         IT investment: Place Asset Management System

·         Community Safety

·         Flood Alleviation

·         Tennis Courts Works at Broomfield Park

·         Town Centre Regeneration: Good Growth Fund – Fore Street, Angel Edmonton

·         Reardon Court

·         Extension to Foster Carer’s Homes

·         Covid-19 Rough Sleepers Homelessness Grant

2.            To note that Appendix A to the report detailed the revised 10 year capital programme including all programmes with approval to spend. The total budget was £1,760bn.

3.            To note that Appendix B to the report detailed requested additions, that were subject to further approval.

4.            To note that Appendix C to the report detailed the total revised 10 year capital programme. The total budget was £2,296bn.

Reason: To inform Members of the current position of the Council’s capital programme.

(Key decision – reference number 5201)