To submit for approval the minutes of the meetings held on 17 October and 14 November 2018, and in particular to consider the following recommendations:

Exe/18/94        Global Monitoring and Budget Update

To recommend to Council that the revised Prudential Indicator for non HRA Capital Expenditure be set at £600m.

Exe/18/95        Capital Programme Monitoring 2018/19

To recommend that the Council approve the virements over £0.5m between capital schemes to maximise use of funding resources available to the City Council as set out in the appendix to these minutes. (Appendix attached)

Exe/18/96        Capital Programme Update

To recommend that the Council approve the following changes to Manchester City Council’s capital programme:

(a)     Strategic Development – Alexandra House. A capital budget allocation and transfer of £12.0m, £0.885m in 2018/19, £4.790m in 2019/20, £4.0m in 2020/21 and £2.325m in future years, to be met from £10.0m from the Estates Transformation budget funded by borrowing and £2.0m from the Asset Management Programme budget funded by capital receipts;

(b)     Neighbourhoods – Christmas Market Electrical Equipment. A capital budget increase of £0.137m in 2018/19, funded by borrowing.

(c)     Strategic Development – Car Hire, Etihad. A capital budget allocation and transfer of £0.960m in 2018/19, from the Strategic Acquisition budget, funded by Capital Fund.

(d)     Highways – Highways Asset Surveys. A virement from the capital budget to revenue of £1.5m, £1.2m in 2019/20, £0.15m in 2020/21 and £0.15m in 2021/22, funded via Capital Fund.

Exe/18/100     The Factory

(1)       To recommend to the Council to approve a Capital Budget increase of £18.97M, funded by prudential borrowing subject the requirement for the City Treasurer to manage the overall resourcing of the capital budget in a way that provides best value to the Council. This will increase the total capital budget for the construction of The Factory from £111.65M to £130.62M.

(2)       To recommend to the Council a Capital Budget virement from the Strategic Acquisitions Capital Budget of £1.286M, to cover additional land assembly costs, associated with the acquisition of and securing timely access to the Factory site.

(3)       To recommend to the Council a Capital Budget virement of £4.3M from the Sustaining Key Initiatives Capital Budget for the loan facility to Manchester Quays Riverside Limited, on commercial terms.

Exe/18/102     Sprinkler and Fire Safety Works Update

To recommend to Council that the budget for fire safety works be increased from £4.0m to £5.2m, being an increase of £1.2m to the Public Sector Capital Programme funded from revenue contributions from the HRA.

Exe/18/103     Capital Programme Update

To recommend to the Council these changes to the Council’s capital programme:

(a)     Neighbourhoods – Smart Litter Bins. A capital budget increase of £0.258m in 2018/19, funded by borrowing of £0.208m and reserves of £0.050m.

(b)     ICT – Data Centre Network Design and Implementation. A capital allocation and transfer of £3.108m, £2.964m in 2018/19 and £0.144m in 2019/20 to be met from the ICT Investment Plan budget, funded by borrowing.

(c)     Public Sector Housing – Northwards Replacement of Prepayment meters in High Rise Blocks. A capital allocation and transfer of £0.752m, £0.058m in 2018/19 and £0.694m in 2019/20 to be met from the Northwards unallocated budget, funded by capital receipts.

The proceedings of the Executive on 17 October and 14 November 2018 were submitted. The Council was asked to give particular consideration to the following recommendations:

Exe/18/094 Global Monitoring and Budget Update - Council to approve the revised Prudential Indicator for non HRA Capital Expenditure be set at £600m.

Exe/18/095 Capital Programme Monitoring 2018/19 - Council to approve

the virements over £0.5m between capital schemes to maximise use of funding resources available to the City Council as set out in the appendix to the minutes submitted.

Exe/18/096 Capital Programme –Update - Council to approve the following changes to Manchester City Council’s capital programme:

            a) Strategic Development – Alexandra House. A capital budget allocation and transfer of £12.0m, £0.885m in 2018/19, £4.790m in 2019/20, £4.0m in 2020/21 and £2.325m in future years, to be met from £10.0m from the Estates Transformation budget funded by borrowing and £2.0m from the Asset Management Programme budget funded by capital receipts.

            b) Neighbourhoods – Christmas Market Electrical Equipment. A capital budget increase of £0.137m in 2018/19, funded by borrowing.

            c) Strategic Development – Car Hire, Etihad. A capital budget allocation and transfer of £0.960m in 2018/19, from the Strategic Acquisition budget, funded by Capital Fund.

            d) Highways – Highways Asset Surveys. A virement from the capital budget to revenue of £1.5m, £1.2m in 2019/20, £0.15m in 2020/21 and £0.15m in 2021/22, funded via Capital Fund.

Exe/18/100 The Factory - Council to approve the following:

a) Capital Budget increase of £18.97M, funded by prudential borrowing subject the requirement for the City Treasurer to manage the overall resourcing of the capital budget in a way that provides best value to the Council. This will increase the total capital budget for the construction of The Factory from £111.65M to £130.62M.

b) A Capital Budget virement from the Strategic Acquisitions Capital Budget of £1.286M, to cover additional land assembly costs, associated with the acquisition of and securing timely access to the Factory site.

c) A Capital Budget virement of £4.3M from the Sustaining Key Initiatives Capital Budget for the loan facility to Manchester Quays Riverside Limited, on commercial terms.

Exe/18/102 Sprinkler and Fire Safety Works Update - the Council to approve the budget for fire safety works be increased from £4.0m to £5.2m, being an increase of £1.2m to the Public Sector Capital Programme funded from revenue contributions from the HRA.

Exe/18/103Capital Programme Update - the Council to approve the following changes to the Council’s capital programme:

a)    Neighbourhoods – Smart Litter Bins. A capital budget increase of £0.258m in 2018/19, funded by borrowing of £0.208m and reserves of £0.050m.

b)    ICT – Data Centre Network Design and Implementation. A capital allocation and transfer of £3.108m, £2.964m in 2018/19 and £0.144m in 2019/20 to be met from the ICT Investment Plan budget, funded by borrowing.

c)    Public Sector Housing – Northwards Replacement of Prepayment meters in High Rise Blocks. A capital allocation and transfer of £0.752m, £0.058m in 2018/19 and £0.694m in 2019/20 to be met from the Northwards unallocated budget, funded by capital receipts.

Decisions

1.            To receive the minutes of the Executive held on 17 October and 14 November 2018.

2.            To approve the revised Prudential Indicator for non HRA Capital Expenditure be set at £600m.

3.            To approve the Council to approve the virements over £0.5m between capital schemes to maximise use of funding resources available to the City Council as set out in the appendix to the Executive minutes (17 October 2018).

4.            To approve the virements over £0.5m between capital schemes to maximise use of funding resources available to the City Council as set out in the appendix to the minutes submitted (Executive 17 October 2018).

5.            To approve the following changes to Manchester City Council’s Capital Programme:

a)    Strategic Development – Alexandra House. A capital budget allocation and transfer of £12.0m, £0.885m in 2018/19, £4.790m in 2019/20, £4.0m in 2020/21 and £2.325m in future years, to be met from £10.0m from the Estates Transformation budget funded by borrowing and £2.0m from the Asset Management Programme budget funded by capital receipts.

b)    Neighbourhoods – Christmas Market Electrical Equipment. A capital budget increase of £0.137m in 2018/19, funded by borrowing.

c)    Strategic Development – Car Hire, Etihad. A capital budget allocation and transfer of £0.960m in 2018/19, from the Strategic Acquisition budget, funded by Capital Fund.

d)    Highways – Highways Asset Surveys. A virement from the capital budget to revenue of £1.5m, £1.2m in 2019/20, £0.15m in 2020/21 and £0.15m in 2021/22, funded via Capital Fund.

e)    Neighbourhoods – Smart Litter Bins. A capital budget increase of £0.258m in 2018/19, funded by borrowing of £0.208m and reserves of £0.050m.

f)     ICT – Data Centre Network Design and Implementation. A capital allocation and transfer of £3.108m, £2.964m in 2018/19 and £0.144m in 2019/20 to be met from the ICT Investment Plan budget, funded by borrowing.

g)    Public Sector Housing – Northwards Replacement of Prepayment meters in High Rise Blocks. A capital allocation and transfer of £0.752m, £0.058m in 2018/19 and £0.694m in 2019/20 to be met from the Northwards unallocated budget, funded by capital receipts.

6.            To approve the following changes to the Council’s Capital Budget:

a)    An increase of £18.97M, funded by prudential borrowing subject the requirement for the City Treasurer to manage the overall resourcing of the capital budget in a way that provides best value to the Council. This will increase the total capital budget for the construction of The Factory from £111.65M to £130.62M.

b)    A virement from the Strategic Acquisitions Capital Budget of £1.286M, to cover additional land assembly costs, associated with the acquisition of and securing timely access to the Factory site.

c)    A virement of £4.3M from the Sustaining Key Initiatives Capital Budget for the loan facility to Manchester Quays Riverside Limited, on commercial terms.

7.            To approve the budget for fire safety works be increased from £4.0m to £5.2m, being an increase of £1.2m to the Public Sector Capital Programme funded from revenue contributions from the HRA.