Issue - meetings

Report FSD16047

The report summarised the current position on capital expenditure and receipts following the first quarter of 2016/17 and sought approval for a revised capital programme. An appendix in part 2 set out further details of capital receipts.

RESOLVED that 

(1) The report be noted, including the re-phasing of £4,816k from 2015/16 into 2016/17 and £24,909k from 2016/17 into 2017/18 (see paragraph 3.3.13 of the report) and a revised Capital Programme be agreed.

(2) The following amendments to the Capital Programme be approved:

(i)  reduction of £600k over four years 2016/17 to 2019/20 on School Access Initiative (see para 3.3.1);

(ii)  reduction of £76k on the Property Investment Fund scheme to reflect reduced associated costs on completed acquisitions (see para 3.3.2);

(iii)reduction of £19k on Manorfields – Temporary Accommodation scheme and reduction of £11k on Woodland Improvements Programme to reflect funding received (see para 3.3.3);

(iv)Transport for London (TfL) – Revised Support for Traffic and Highways Schemes (£19k additions in 2016/17) (see para 3.3.4);

(v)  inclusion of £116k funding from Historic England on Crystal Palace Park Improvements scheme (see para 3.3.5);

(vi) inclusion of £309k funding from Education Funding Agency for Basic Need (see para 3.3.6);

(vii)  addition of £644k in 2016/17 relating to the annual revenue contributions to Bromley Mytime Investment Fund (see para 3.3.7);

(viii)increase of £739k in 2016/17 on Disabled Facilities Grant funded scheme to reflect the latest grant approvals (see para 3.3.8);

(ix) transfer (virement) of £50k from the budget for Social Care Grant to Performance Management/Children's Services - information technology to support the Eclipse system (see para 3.3.9);

(x)  deletion of £13k residual balance on the Joint Web Platform scheme and Former Chartwell Business Centre scheme, which have both reached completion  (see para 3.3.10);

(xi) increase of £434k in 2016/17 on Carbon Management Programme (Invest to Save funding) to reflect the latest total repayment and funding available (see para 3.3.11);

(xii)  Section 106 receipts from developers - net increase of £329k in 2016/17 to reflect the funding available and remaining unallocated balance (see para 3.3.12);

(3) Capital receipts from the sale of Banbury House for the Council’s Investment Fund be set aside to generate alternative revenue income (see para 3.7).

(4) The report elsewhere on the agenda requesting approval of £110k from the Growth Fund to fund the costs associated with establishing Business Improvement Districts be noted.