Issue - meetings

Further to Minute No. 69 of the Cabinet meeting held on 26 February 2015, the Council considered the report of the Head of Corporate Finance and ICT which provided an update on the Capital Investment Plan 2014/15; and 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 2015/16. The report also outlined £16.1m of new investments which were aimed to improve the facilities and services to residents throughout Sefton. 

It was moved by Councillor P. Dowd, seconded by Councillor Maher and

RESOLVED:

That approval be given to the inclusion within the Capital Investment Plan, of 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.

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.