Issue - meetings

Report FSD16018

The current position on capital expenditure and receipts was summarised following the third quarter 2015/16 with new capital schemes presented for approval in the annual capital review process.

In regard to the annual bidding process, the main focus had again been on a continuation of existing essential programmes and on externally funded schemes with no new bids being put forward at this stage.

Members were asked to approve a revised Capital Programme and in so doing noted and approved the recommendations in Report FSD16018.

RESOLVED that:

(1)  Report FSD16018 be noted, including the re-phasing of a total of £5,456k from 2015/16 into 2016/17 (see paragraph 3.3.6 of Report FSD16018) and a revised Capital Programme be agreed;

(2)  the following amendments to the Capital Programme be approved -

(i)  increase of £79k in 2015/16 to reflect revised grant support from Transport for London for Highways and Traffic schemes (see paragraph 3.3.1 of Report FSD16018);

(ii)  a net reduction of £6,347k in 2015/16 for the Council’s Property Investment Fund scheme to reflect the latest update on successful property acquisitions (see paragraph 3.3.2 of Report FSD16018); 

(iii) deletion of £13k residual balance on The Hill Multi-Storey Car Park and Bromley Town Centre Car Parking capacity schemes, which have both reached completion (see paragraph 3.3.3 of Report FSD16018); 

(iv)  the remaining Highways Section 106 balance of £6k be allocated to the relevant schemes - Gosshill Road (£4k) and Orpington Railway Station scheme (£2k) (see paragraph 3.3.4 of Report FSD16018); 

(v)  Section 106 receipts from developers - net increase of £283k to reflect the funding available, and the remaining unallocated balance (see paragraph 3.3.5 of Report FSD16018); and

(3)  Council be recommended to agree the inclusion of the new scheme proposals listed at Appendix C to Report FSD16018 in the Capital Programme (see paragraphs 3.4 and 3.5 of Report FSD16018).