EXECUTIVE BOARD

 

Date 4th FEBRUARY 2019

 

 

FIVE YEAR CAPITAL PROGRAMME (COUNCIL FUND) – 2019/20 TO 2023/24

 

 

EXECUTIVE BOARD RECOMMENDATIONS:

That Executive Board consider and recommend to County Council:

 

1. The Five Year Capital Programme and funding as detailed in Appendix B, with 2019/20 being a hard budget and 2020/21 to 2023/24 soft/indicative budgets.

2. That the programme be reviewed, as is usual, if anticipated External or County Council funding does not materialise.

    3. That the Capital Strategy (Appendix C) be approved.

 

REASONS:

To enable the Authority to agree a Five Year Capital Programme 2019/20 to 2023/24.

 

Relevant Scrutiny Committee Consulted    YES    

Exec Board Decision Required                     YES

Council Decision Required                           YES

 

Directorate:

Corporate Services

Chris Moore

 

Report Author:

Mark Gower

Designation:

 

Director of Corporate Services

 

 

Senior Accountant – Capital

Telephone: (01267) 224120

E-mail address:

cmoore@carmarthenshire.gov.uk

 

 

mgower@carmarthenshire.gov.uk


EXECUTIVE SUMMARY

Executive board

Date 4th FEBRUARY 2019

 

 

 

FIVE YEAR CAPITAL PROGRAMME (COUNCIL FUND)  – 2019/20 TO 2023/24

 

 

 

The report brings together the latest proposals for the Five Year Capital Programme 2019/20 to 2023/24. The report also takes account of the consultation exercise undertaken and the revenue implications arising from the capital programme.

 

The capital programme proposed gross expenditure for 2019/20 is £104.708m with the projected funding of the programme being £59.109m from the County Council through the use of borrowing, capital receipts, reserves and general capital grant. The balance of funding of £45.599m will come from external sources.

 

The capital programme is projected to be fully funded over the 5 years from 2019/20 through to 2023/24.

 

The Capital Programme also includes projected expenditure that is to be expended on the Swansea Bay City Region Deal projects, which the authority will borrow against with the funding being returned from WG and UK government over a 15 years period.

 

 

The Prudential Code for Capital Finance in Local Authorities was updated by the Chartered Institute of Public Finance and Accountancy (CIPFA) in December 2017.

 

This Code dictates that “authorities should have in place a capital strategy that sets out the long-term context in which capital expenditure and investment decisions are made and gives due consideration to both risk and reward and impact on the achievement of priority outcomes.” The Capital Strategy covers both Council Fund and HRA capital. This Capital Strategy is included as Appendix C.

 

 

 

 

 

 

DETAILED REPORT ATTACHED?

YES

 


 

INTEGRATION

 

 

I confirm that the Community Strategy Integration Tool has:

 

Not been used to appraise the subject of this report as it is not appropriate to do so.

 

 

Signed:        C. Moore                                                          Director of Corporate Services.                                                    

 

 

IMPLICATIONS

 

 

 

I confirm that other than those implications which have been agreed with the appropriate Directors / Heads of Service and are referred to in detail below, there are no other implications associated with this report :

 

Signed:        C. Moore                                                            Director of Corporate Services.

 

 

Policy and Crime & Disorder

 

Legal

Finance

ICT

Risk Management Issues

Organisational Development

Physical Assets 

 

NONE

 

NONE

 

YES

NONE

 

NONE

 

 

NONE

 

 

YES

 

 

Finance

The updated Capital Programme is projected to be fully funded for the 5 years 2019/20 through to 2023/24. If any of the currently anticipated funding does not materialise, the Capital Programme will need to be revisited.

Physical Assets

New assets created from the Capital Programme will be added to the Council’s portfolio. In addition the Programme proposes expenditure to improve the existing assets and comply with statutory responsibilities.

 

 

 

 

 

 

 

 

 

CONSULTATIONS

 

 

I confirm that the appropriate consultations have taken in place and the outcomes are as detailed below

 

Signed:    C. Moore                                                           Director of Corporate Services

 

 

 

1.Local Member(s)    N/A.

2.Community / Town Council    N/A

3.Relevant Partners    Full consultation has been undertaken

4.Staff Side Representatives and other Organisations   Full consultation has been undertaken

 

 

Section 100D Local Government Act, 1972 – Access to Information

List of Background Papers used in the preparation of this report:

These are detailed below

            

Title of Document

 

File Ref No.

Locations that the papers are available for public inspection

 

2018-23 Capital Programme

 

 

 

Corporate Services Dept., County Hall, Carmarthen

2019-24 Capital Programme

 

Corporate Services Dept., County Hall, Carmarthen