Issue - meetings

[NOTE:  Councillor A. Davies had earlier declared an interest in this item.]

The Cabinet considered a report detailing the latest proposals for the Five-Year Capital Programme (Council Fund) 2022/23 to 2026/2027 which would form the basis of the budget consultation process with members and other relevant parties. Feedback from this consultation process, along with any updates on the settlement figures and grant applications, would inform the final Capital Programme budget report which would be presented to the Cabinet on the 21^st February 2022 and County Council in March 2022.

The proposed gross expenditure on the capital programme for 2022/23 was £144.844m with the projected funding being £52.249m from the County Council’s own resources through the use of borrowing, reserves and general capital grant and the balance of funding of £92.595m coming from external sources. Those figures included projects delayed in 2021/22, mainly because of Covid-19 restrictions, that had been carried over and built into the budgets of future years.

The capital programme was projected to be fully funded over the five years. It included projected expenditure on the Swansea Bay City Region Deal projects against which the Authority would borrow, with the funding being returned from both Welsh and UK governments over a 15 year period (from 2018/19).

UNANIMOUSLY RESOLVED to endorse the report as a provisional capital programme for consultation purposes, including consideration by the Policy and Resources Scrutiny Committee at its meeting to be held on 2^nd February, 2022.