Agenda item
FIVE YEAR CAPITAL PROGRAMME (COUNCIL FUND) - 2019/20 TO 2023/24
Minutes:
The Executive Board considered a report which brought together the latest proposals for the Five Year Capital Programme (Council Fund) 2019/20 to 2023/2024 taking into account the consultation exercise undertaken and the revenue implications arising from the capital programme.
The Board noted that the capital programme proposed gross expenditure for 2019/20 of £104.708m, with projected funding of £59.109m from the County Council through the use of borrowing, capital receipts, reserves and general capital grant and the balance of £45.599m coming from external sources. The Board was advised that the capital programme was projected to be fully funded over the five year period from 2019/20 through to 2023/24
The Executive Board Member – Resources informed the Board that, in total, the five year rolling programme would realise investment of nearly £261m (County Council funding estimated at £133m and £128m external funding). However, as with the revenue settlement, the authority had not been provided with any forward indicators from the Welsh Government in respect of general capital funding beyond 2019/10. As a consequence, the programme was based on future years supported borrowing and general grant being at the same level as 2019/20. There had however been additional capital grant for general purposes made available by the Welsh Government over a three year period from 2018/19 to 2020/21 amounting to some £6.6m, which had been included within the 5 year capital programme.
The Executive Board noted that as part of the programme a number of new additional schemes had been included for example:
· Communities Department - there was new funding for the Amman Valley Leisure centre together with the continued support for private sector housing in 2023/24 for Disabled Facilities Grant
· Environment Department – continued support for highways improvements, bridge maintenance and road safety schemes into 2023/24 and also for the Tywi Valley Path in 2019/20. Also, as a consequence of additional Welsh Government Funding, the budgeted spend for roads refurbishment had been increased by a further £1.5m per year for three years
· The MEP programme had been amended in 2019/20 to 2023/24 with the reprofiling of budgets and the introduction of some new schemes including Ysgol Gymraeg Cydweli, Hendy, Llandeilo and both Welsh Medium and Dual Stream schools at Ammanford. This had been possible as a result of the Welsh Government having announced its approval for the Council’s Band B programme running to 2024 with the main change being the increase in the intervention rate from 50% to 65% for schools and 50% to 75% for special schools. That increase had provided the authority with scope to deliver more schools within the £129.5m Band B programme.
· Regeneration and Chief Executives budgets now incorporate the City Deal schemes, including the Wellness Village and Yr Egin. The proposed Llanelli Leisure Centre and the Llanelli Area review had also been identified as a key component within the proposed Wellness Village Development. There was also continued support for the Transformation Strategy Project Fund within Regeneration for 2023/24 which had the potential of external funding to match fund the Council’s budget
UNANIMOUSLY RESOLVED TO RECOMMEND TO COUNCIL THAT
7.1 |
the Five Year Capital Programme and funding, as detailed in Appendix B to the report, with 2019/20 being a hard budget and 2020/21 to 2023/24 soft/indicative budgets be approved; |
7.2 |
the programme be reviewed, as usual, if anticipated External or, County Council funding did not materialise. |
7.3 |
the Capital Strategy, as detailed in Appendix C, be approved. |
Supporting documents:
- Summary, item 7. PDF 152 KB
- Report, item 7. PDF 90 KB
- Appendix A, item 7. PDF 80 KB
- Appendix B, item 7. PDF 138 KB
- Appendix C, item 7. PDF 147 KB
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