Item FIP 22/5 referred from Finance, Innovation and Property Advisory Board of 12 January 2022

All budgetary matters will be considered in the substantive item on Setting the Budget 2022/23

All budgetary matters were considered in detail in the substantive item on Setting the Budget 2022/23 (Minute Number CB 22/17).  However, the recommendations from the meeting of the Finance, Innovation and Property Advisory Board of 12 January 2022 in relation to the formulation of initial draft proposals in respect of the Budget, including the Capital Plan (Minute Number FIP 22/5) was given due consideration as part of the substantive discussion.

This report:

·             Reviews the current position of the existing Capital Plan (List A).

·             Recommends schemes to be added to and deleted from List C.

·             Recommends schemes from List C for evaluation.

·             Recommends schemes for inclusion on List B from those evaluated schemes selected for evaluation this time last year or earlier and in certain circumstances schemes identified for Fast-Track evaluation.

·             Presents an updated Capital Strategy for endorsement.

Members are reminded however, that any aspirations in respect of capital schemes need to be set within the context of the difficult and challenging financial outlook.

Members’ attention is drawn to the Appendix to Annex 1 List A which contains restricted information and is set out in Item 14 of this agenda.

Consideration was given to the report of the Director of Finance and Transformation which reviewed the current position of the existing Capital Plan (List A).  It also recommended schemes for addition to List C, some existing List schemes for deletion or evaluation and schemes for inclusion on List B from those List C schemes previously selected for evaluation or in certain circumstances identified for Fast-Track evaluation.  It was noted that the Appendix to Annex 1 to the report was set out in the private part of the agenda as it contained exempt information (Minute No FIP 22/11 refers).

RECOMMENDED:  That the following be endorsed for consideration by the Cabinet

(1)             the Capital Plan (List A) position as shown in Annex 1 be endorsed and the addition of the proposed purchase of the freehold of 47 High Street, Tonbridge to the Capital Plan under urgency provisions be noted;

(2)             the amendment of List C as detailed in paragraph 1.5.3 of the report;

(3)             the selection of those schemes listed in paragraph 1.6.4 of the report for evaluation including the two schemes recommended for Fast-Track evaluation;

(4)             the transfer of the two schemes shown in paragraph 1.7.3 from List C to List B; and

(5)             the Capital Strategy as set out at Annex 4 to the report be endorsed for adoption by Council and publication on the Council’s website.

*Referred to Cabinet