Issue - meetings

Capital Programme 2018/19

Meeting: 01/02/2018 - Strategy and Resources Committee (Item 45)

45 Capital Programme 2018/19 pdf icon PDF 110 KB

This report summarises the proposed 2018/19 capital programme and the provisional programme for 2019-21. Committee approval is sought for the programme to be submitted to Council in February 2018.

Additional documents:

Minutes:

A report was presented to the Committee that set out its proposed Capital Programme for 2018/19.

The Chairman highlighted that the programme had been through extensive scrutiny prior to its presentation to Committee and again highlighted that the Financial Policy Panel had only supported the possibility of using any surplus revenue funds, arising principally form dividend income received from the Epsom & Ewell Property Investment Company (EEPIC) to fund the capital programme in 2018/19.

The report highlighted that, in total, Medium Term Financial Strategy projects showed that £540K revenue funds were available to find the capital programme in 2018/19 subject to the risks associated with Government proposals currently out to consultation in relation to changes to Minimum Revenue Provision (MRP).  It was recommended that the entirety of this Committee’s capital programme be funded from these reserves, together with £35K towards the Environment Committee’s capital programme (upgrade of car park card payment machines), altogether totalling £540K.  This would ease the pressure on the use of capital receipts and maintain the reserves at £2.16 million at the end of this period.

The report set out that the Financial Policy Panel had recommended the following schemes for inclusion in the capital programme totalling £505,000 to be funded from revenue subject to the risks associated with Government proposals currently out to consultation in relation to changes to Minimum Revenue Provision (MRP):

·                     Replacement of CRM Data Warehouse (£250K);

·                     ICT programme of works (£60K);

·                     Document Management System replacement (£50K)

·                     Financial Management System Upgrade (£65K)

·                     Renewal of Town Hall Lift Controls (£60K).

It was further proposed that the following scheme be included in the provisional capital programme for 2019/20 to 2020/21:

·                     Replacement of CRM and Data Warehouse (£250K)

Accordingly, the Committee:

(1)          Submitted the Capital Programme for 2018/19 as identified in section 4 of the report to Council for approval on 20 February 2018;

(2)          Confirmed its support for all the schemes included in the provisional programme for 2019-21 as identified in section 5 of the report;

(3)          Agreed that £540K revenue funds, as set out in paragraph 2.4 to 2.5 of the report be used to fund the 2018/19 capital programme, subject to:

a)            Approval of the 2018/19 revenue budget estimated by this same Committee;

b)            Should the Department for Communities and Local Government (DCLG) implement changes that reduced the level of revenue funds available to support the Capital Programme, any affected scheme should proceed but revert to funding from capital receipts as set out in section 10 of the report.