Decision details

The Cabinet considered the report of the Head of Corporate Finance and ICT which provided an update on the Capital Investment Plan 2014/15; details of the Government Capital Allocations for 2015/16 that had been received to date and their use in the development of a new starts programme for 2015/2016. The report also outlined £16.1m of new investments which were aimed to improve the facilities and services to residents throughout Sefton. 

Decision Made:

That:

(1)       the 2015/16 capital allocations received to date, as set out in paragraph 3.2 of the report be noted;

(2)       the Council be recommended to approve for inclusion within the Capital Investment Plan, the Capital schemes to be funded from the 2015/2016 Single Capital Pot as outlined in Appendix A and the Prudential Borrowing Scheme in Appendix B of the report; and

(3)       approval be given to an increase in the existing Capital Programme for business growth grants from £1.3m to £1.55m, to be met from external funding.

Reasons for Decision:

To update Members on the 2014/2015 Capital Investment Plan; inform Members of the 2015/16 Capital Allocations received to date; to allow Members to consider how these allocations should be utilised and to seek approval for a scheme to be funded from Prudential Borrowing.

Alternative Options Considered and Rejected:

The options available to Members for the use of non ring-fenced capital grant allocations are included in the body of the report.