Issue - meetings

That:

1.  The strategy’s principles as set out in paragraphs 2.5 to 2.10 of the report of the Director of Finance and Business Improvement be agreed;

2.  The capital funding projection as set out in Appendix B to the report of the Director of Finance and Business Improvement be agreed;

3.  The capital programme 2017/18 onwards, as set out in Appendix C to the report of the Director of Finance and Business Improvement, be agreed;

4.  In agreeing to recommendations 2 and 3 above, prudential borrowing limit of £29,002,870 over the period of the programme be noted, which will be recommended to Council as part of the Treasury Management Strategy 2017/18 by the Audit, Governance and Standards Committee;

5.  The Section 106 contributions be reported as part of the Quarterly Budget Monitoring Report.

Members considered the report of the Director of Finance and Business Improvement on the Medium Term Financial Strategy 2017/18 Onwards – Capital Programme.

The committee noted the proposed capital programme for the next 5 years, as well as funding arrangements for the programme.

In response to questions from Members the Director of Finance and Business Improvement advised that:-

·  £1.5m had been set aside for the acquisition of commercial assets.  The fund allowed the Council to take advantage of opportunities that may arise such as premises on trading estates as it had done in the past.

·  The Museum Development Plan had been put in the capital programme, there were still opportunities for savings to be made.

·  A vehicle was purchased two years ago to clean chewing gum from the streets.

·  Details of the Section 106 contributions would be included in the quarterly budget reports in future.

·  The Housing Regeneration programme was realistic but should the potential for a larger project arise then the Council may look at funding with a partner.

·  Members could suggest locations that would benefit from a litter bin being sited.

·  There was no cap on what the Council could borrow but the amount needed to be sustainable and affordable. 

·  Funding for Vinters Park Crematorium was still available for 2016/17 but should the work not be progressed then the unspent resources could be carried forward.

RESOLVED: That:

1.  The strategy’s principles as set out in paragraphs 2.5 to 2.10 of the report of the Director of Finance and Business Improvement be agreed;

2.  The capital funding projection as set out in Appendix B to the report of the Director of Finance and Business Improvement be agreed;

3.  The capital programme 2017/18 onwards, as set out in Appendix C to the report of the Director of Finance and Business Improvement, be agreed;

4.  In agreeing to recommendations 2 and 3 above, prudential borrowing limit of £29,002,870 over the period of the programme be noted, which will be recommended to Council as part of the Treasury Management Strategy 2017/18 by the Audit, Governance and Standards Committee;

5.  The Section 106 contributions be reported as part of the Quarterly Budget Monitoring Report.

Voting:  For:  12  Against:  0  Abstention: 1

Councillors English and Pickett left the meeting during the discussion of this item and did not vote.