Agenda item

The report reviews the current position of the existing Capital Plan and recommends schemes to be added to and deleted from List C; schemes for evaluation and schemes for inclusion on List B.   An updated Capital Strategy is also presented for endorsement.

The report of the Head of Finance and Cabinet Member for Finance, Waste and Technical Services detailed proposals for the Capital Plan for the remainder of 2025/26 and 2026/27 and sought endorsement of recommendations to the Cabinet.

Members were reminded that the capital plan process provided a means of maintaining a pool (List C) from which schemes could be selected for evaluation and possible implementation.  It also provided an opportunity to review the provisions for schemes which were already in the Capital Plan (List A).

It was explained that capital expenditure was currently funded from the revenue reserve for capital schemes, grants from government and other bodies, developer contributions and from capital receipts derived from the sale of assets.  In some circumstances other earmarked reserves were used to fund in full or in part appropriate capital plan schemes.  However, it was also noted that based on current approvals that from 2029/30 the Borough Council might need to borrow to fund such expenditure.

Proposals for List C which included the addition of ‘fast track’ schemes in respect of Tonbridge Farm Sportsground Improvements All Weather Pitch, Leybourne Lakes Country Park – Resurfacing Access Roads and Paths, Taddington Valley – Site Improvement Works, Water Safety Systems Installation for Swimming Pools and Innerva Suite – Angel Leisure Centre  were outlined in 9.4 of the report. Funding arrangements and evaluated details for these schemes were set out in Annex 4 and 10.1 to 10.6 of the report.

In addition, to the five schemes identified for ‘fast track’, a further scheme concerning the boilers at Tonbridge Swimming Pool required consideration to enable a potential amendment to the current Boiler Scheme on List A to include this additional site.  This scheme could be funded from the annual capital allowance of £500,000.    There was no objection raised to amending the current List A scheme.

Careful consideration was given to the existing Capital Plan (List A) and List C (as detailed in Annexes 1 – 3) and officers responded to questions raised by Members related to the reduced budget provision of  housing assistance, capital receipts of the old Angel Leisure Centre and the scheme at Tonbridge Farm Sportsground.

In response the Committee was assured that housing assistance support was not being reduced but funded by Better Care Funding and every effort would be made to put capital receipts towards the replacement Angel Centre in due course. An offer to hold a Member briefing on the Tonbridge Farm Sportsground to better understand the project was welcomed. Other queries raised would be addressed out of meeting and if appropriate necessary adjustments to the schemes would be made.

Members recognised the significant financial implications in respect of a number of schemes and were reassured that the costs, risks, works and valuations associated with the projects would be carefully monitored.  It was also commented that projects set out should be implemented as soon as possible in advance of local government organisation so that these could be started/completed if the Borough Council no longer existed.

Finally, the Committee recorded appreciation to Officers in Finance Services for their contribution in preparing both the Revenue Estimates and the Capital Plan.

*RECOMMENDED: That

(1)             the current Capital Plan (List A) position (attached at Annex 1) be noted;

(2)             List C (attached at Annex 3) be amended by Cabinet as detailed in 8.3  of the report;

(3)             the transfer of the five fast-track evaluated schemes (shown in 9.4 and Annex 4) from List C to List B be commended to Cabinet for endorsement;

(4)             the remaining four List C schemes listed in 9.4 be selected for evaluation;

(5)             Cabinet endorse Capital Plan (List B) totalling £1.869m (detailed in Annex 2 and 11.3) transferring to List A, subject to the remaining finance being identified;

(6)             Cabinet be asked to update the Capital Plan (List A) position as recommended above; and

(7)             the Cabinet be invited to endorse the Capital Strategy (attached at Annex 5) for adoption by the Council and publication on the Council’s website.

*Recommended to Cabinet