Resolved –

That it be recommended to Council:

(1)       That the report be noted and that the Executive had regard to the information contained within Executive Document “DG” in considering the recommendations to make to Council on the Capital Investment Plan for 2021-22.

(2)       That commitments against reserve schemes and contingencies            can only be made after a business case has been assessed by          Project Appraisal Group and approved by Executive.

(3)       That delegated authority be given to the Section 151 Officer to repay debt on an annuity basis, for chosen properties purchased during or after 2018-19. Delegated authority could only be exercised if two conditions are met:

            1. the asset retains or increases its value;

2. the return from the capital scheme is sufficient to repay the capital sum invested.

(4)       That the proposed 2021-22 MRP policy set out in Appendix 2 to             Executive Document “DG" be approved.

(5)       That the Flexible Use of Capital Receipts Strategy be approved.

(6)       That specific approval be given for the following schemes           previously approved by Executive to commence following a     detailed review by Project Appraisal Group:

•           The 2021-22 Property Programme has a proposed total cost of £2.5m and this will be funded by the £2m allocated and the      movement of £0.5m from the Argus Chambers Property Scheme.

•           IT Processes and Systems – End to End Review. The scheme is for a planned programme of improvement work to systems and processes in Children’s Services. The cost of the capital spend is £0.330m and it will be funded by corporate borrowing.   

ACTION: Director of Finance

Overview and Scrutiny Committee: Corporate

(Chris Chapman - 01274 433656)