Agenda item

To submit a report by the Director of Function (Resources)/Section 151 Officer.

The report of the Director of Function (Resources)/Section 151 Officer incorporating the proposed capital budget for 2024/25 was presented for the Executive’s consideration.

Councillor Robin Williams, Deputy Leader and Portfolio Member for Finance reported that the Capital Budget for 2024/25 takes into account the principles set out in the Capital Strategy which was approved by the Executive and the full Council in March 2023.  The funds available to finance the capital programme for 2024/25 was shown in Table 1 of the report. The figure for the General Capital Grant and Supported Borrowing are based on the provisional Local Government figures.  The final detailed proposed capital programme is shown in Appendix 2 to the report.

The Director of Function (Resources)/Section 151 Officer reported that the general capital funding received from Welsh Government for 2024/2025 is £12k higher than the allocation for 2023/2024 and is in line with the funding levels seen over the past 12 years.  There has been no significant increase in the funding, even though the value of funding has been significantly eroded by inflation over this period. There are no additional projects included within the capital programme for 2024/25.   He further said that the Council’s modernisation of schools’ estate, through the Welsh Government’s Communities for Learning programme continues, although currently the programme only includes the completion of the Ysgol y Graig extension.    He further reported on the Housing Revenue Account, which is a ring-fenced account, in terms of both revenue and capital expenditure.  The proposed programme for 2024/2025 will see the continued investment in the existing stock to ensure compliance with the WHQS standards and to develop new properties. 

Councillor Dyfed W Jones, Vice-Chair of the Corporate Scrutiny Committee reported on the Committee’s deliberations at its meeting on 27 February, 2024 with regards to the capital budget 2024/2025.   He confirmed that the Committee had feedback from the Finance Scrutiny Panel and had given careful consideration to the proposed capital programme and schemes within the context of the limited capital funding available for the general fund capital programme and schemes and had sought clarification from the Officers and Portfolio Member of how those proposals enable delivery of the Council’s medium term priorities while balancing short-term pressures as well as the extent to which the Council is able to determine its own capital priorities and expenditure. Further clarification was sought as to the effect on the HRA on the housing stock and tenants and individuals who are on the waiting list for a house.   Having scrutinised the Executive’s final draft capital budget proposals for 2024/25 the Corporate Scrutiny Committee resolved to support and to recommend the draft capital budget proposals for 2024/25 to the Executive as presented.

It was RESOLVED to recommend to the Full Council the following Capital Programme for 2024/25 :

£’000

2023/24 Schemes Brought Forward                                         6,102

Refurbishment/Replacement of Assets                                   4,856

Communities for Learning Programme                                   2,878

Housing Revenue Account (HRA)                                            30,002

Total Recommended Capital Programme 2024/25               43,838

Funded By:

General Capital Grant                                                                   2,222

Supported Borrowing General Fund                                        2,164

Decommitted Scheme Funding b/f from 2023/2024                470

Communities for Learning – Unsupported Borrowing       2,700

Capital Receipts Reserves                                                             178

HRA Reserve and In Year Surplus                                            17,315

HRA External Grants                                                                    11,751

HRA Unsupported Borrowing                                                       936

2023/2024 Funding Brought Forward                                       6,102

2024/2025 Total Capital Funding                                               43,838