Issue - meetings

Item FIP 14/004 referred from Finance, Innovation and Property Advisory Board minutes of 8 January 2014

Item FIP 14/004 referred from Finance, Innovation and Property Advisory Board minutes of 8th January, 2014

The Cabinet received the recommendations of the Finance, Innovation and Property Advisory Board at its meeting on 8 January 2014 in relation to the initial stage of the Capital Plan Review process.  It was agreed that all budgetary matters would be considered in detail at the subsequent Budget meeting of the Cabinet on 13 February 2014.

RECOMMENDED:  That confirmation be given to the action taken in endorsing the following for consideration by the Overview and Scrutiny Committee:

(1)  the Capital Plan (List A) position as shown in Annex 2 to the report;

(2)  the amendment of List C as detailed in paragraph 1.5.1 of the report;

(3)  the selection for evaluation of those List C schemes shown in paragraph 1.6.3 of the report;

(4)  the transfer of the schemes listed in paragraph 1.7.3 of the report from List C to List B and in the case of the river wall, Wouldham scheme a specific earmarked reserve be established in the sum of £700,000 and this scheme sit outside the annual allowance of £320,000 with an implementation date for Capital Plan purposes of 2015/16; and

(5)  endorsement of the draft Capital Strategy, as set out at Annex 5 to the report, for adoption and publication on the Council's website.

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 new schemes for adding to List C, some existing List C schemes for deletion or evaluation over the coming year and schemes for inclusion on List B from those List C schemes previously selected for evaluation.  Members were reminded that any aspirations in respect of capital schemes needed to be set within the context of the significant financial challenge facing the Council.

Attention was drawn to the effect of the increase in Disabled Facilities Grant in 2014/15 and the scrutiny review of Housing Assistance which were likely to result in the provisions being adjusted at the Cabinet meeting.

RECOMMENDED:  That the following be endorsed for consideration by the Overview and Scrutiny Committee:

(1)  the Capital Plan (List A) position as shown in Annex 2 to the report;

(2)  the amendment of List C as detailed in paragraph 1.5.1 of the report;

(3)  the selection for evaluation of those List C schemes shown in paragraph 1.6.3 of the report;

(4)  the transfer of the schemes listed in paragraph 1.7.3 of the report from List C to List B and in the case of the river wall, Wouldham scheme a specific earmarked reserve be established in the sum of £700,000 and this scheme sit outside the annual allowance of £320,000 with an implementation date for Capital Plan purposes of 2015/16; and

(5)  endorsement of the draft Capital Strategy, as set out at Annex 5 to the report, for adoption and publication on the Council's website.