Resolved -

That Council be requested to approve:

a)    The Capital Investment Plan as set out at Appendix 1 to Document “BB” is adopted. Commitments against reserve schemes and contingencies can only be made after a business case has been assessed by the Project Appraisal Group and approved by Executive.

b)   Approve the following capital expenditure schemes:

·         £2m Property Programme to maintain Council assets, subject to final Project Appraisal Group appraisal.

·         £1.961m for the restoration of the former Sugden End Landfill Site.

c)    The Chief Executive, Strategic Directors and Directors enter into commitments on capital schemes within the Capital Investment Plan subject to approval of business cases by Executive up to the approved amounts each year except that, where it is indicated that schemes are funded or partly funded from specific resources such as capital grants or contributions, revenue or capital receipts, the approved amount will be subject to the securing of those resources and be adjusted to reflect the amounts actually received.

d)   Where necessary, the payments arising under the Capital Investment Plan are met from loans.

e)    In order to provide the flexibility necessary to manage effectively the Capital Investment Plan, the Chief Executive, Strategic Directors and Directors be specifically empowered to advance or defer approved schemes subject to consultation with the Director of Finance and the availability of resources.

f)     Additional capital schemes shall only commence where the scheme is wholly funded from specific resources on the approval of the Director of Finance in accordance with Financial Regulations. Also the Section 151 Officer be granted delegated powers up to the authorised limit to approve new schemes subject to Executive approval and taking into account latest revenue budget projections.

g)   The Borrowing Limits and Prudential Indicators as set out in Appendix 2 to Document “BB” are adopted by the Council. 

h)   The Minimum Revenue Provision (MRP) policy as set out in paragraph 6 of Document “BB” be approved.

Action:            Director of Finance