Issue - meetings

Mr Green presented the Medium Term Financial Strategy Capital Programme to the Committee. Mr Green highlighted that the Capital Programme was worth £80 million, and all of this funding was scheduled to be invested within the Borough. As the Capital Programme was aligned to the Strategic Plan Priorities it allowed the Council to demonstrate its commitment to the plan through investments in the Borough.

In response to questions from the Committee, Mr William Cornall, Director of Regeneration and Place, confirmed that:

·  Flooding at the pedestrian entrance to the Cemetery on Pheasant Lane would be considered by the project team as part of the project. However it was unlikely this could be addressed as part of this project as the budget was tight.

·  Although there were funds available for improvements at the Museum, it was not clear whether full match funding for all of the projects would be available. Therefore plans for these improvements needed to be revised. This issue was due to be considered by the Heritage, Culture and Leisure Committee at its next meeting.

RESOLVED: That

1.  The Capital Strategy principles set out in paragraph 1.4 are agreed.

2.  The Capital Funding projection set out in Appendix B to this report are agreed.

3.  The Capital Programme for 2019/20 onwards set out in Appendix C to this report is agreed.

4.  Having agreed the Capital Funding Projection and Capital Programme, a prudential borrowing limit will be set of £55.24 million over the period of the Capital Programme, to be recommended to Council by the Audit, Governance and Standards Committeee as part of the Treasury Management Strategy 2019/20.

Voting:  For - 12  Against - 1  Abstentions – 0