Issue - items at meetings - Capital Budget 2019/20

To submit a report by the Head of Function (Resources)/Section 51 Officer.

It was resolved –

• To recommend to the Full Council the following capital programme for 2019/20:

£’m

Committed schemes brought

forward from 2018/19 6.429

Investing in existing assets 2.539

Highway resurfacing 1.359

New schemes for 2019/20 2.146

21st Century Schools 4.809

Total General Fund Capital

Schemes 17.282

HRA Capital Schemes 13.110

Total Capital

Programme 2019/20 30.392

Funded by:

Funding B/F from 2018/19 1.099

Supported Borrowing 2.026

Supported Borrowing:

21st Century Schools 1.640

Unsupported Borrowing:

21st Century Schools 0.402

HRA Unsupported Borrowing 1.000

Total New Borrowing 5.068

General Capital Grant 1.327

External Grants 11.671

Highways Refurbishment

Grant 0.580

Total Grant Funding 13.578

Funding reallocated from other

postponed projects 1.197

HRA Reserves 9.450

TOTAL FUNDING 30.392

• That The balance of the general capital grant £893k be utilised as part of the funding of the 2020/21 capital programme.

The report of the Head of Function (Resources) and Section 151 Officer setting out the final proposals for the 2019/20 Capital Programme was presented for the Executive’s consideration and for recommendation to the full Council on 27 February, 2019.

The Portfolio Member for Finance reported that no comments were received on the draft capital programme during the consultation period. The recent announcement of the suspension of the Wylfa Newydd project will result in a delay in the project to improve the A5025 from Valley to Wylfa. As it is unclear when the project will re-commence the expenditure on the road improvement project has been deleted from the final proposal. The proposal was to have been fully funded from external grants and the necessary adjustment to the funding has also been made. The provisional settlement included a General Capital Grant of £1.327m.However the final settlement included an additional £0.378m, taking the revised grant to £2.065m.The additional capital grant could be dealt with in one of three ways as outlined in the report including not allocating the grant in 2019/20 and using it instead as part of the funding for the 2020/21 capital programme. Given that the funding in 2020/21 is likely to be limited and that income from capital receipts will be negligible (excluding the sale of school sites where the capital receipt has already been allocated), it would be prudent and a better use of the funding were it to be utilised as part of the 2020/21 capital programme.

The Portfolio Member said that as this was the final budget related item on the agenda of the meeting, he would like to take the opportunity to thank the staff of the Finance Service for all their hard work throughout the budget setting process and specifically, for preparing the reports for today’s budget items.