Agenda item

Agenda item

Capital Programme Update

Report of the Deputy Chief Executive and City Treasurer attached

Minutes:

The Executive considered a report of the Deputy Chief Executive and City Treasurer, which report informed Members of requests to increase the capital programme, sought approval for those schemes that could be approved under authority delegated to the Executive and requested the Executive to recommend to Council proposals that required specific Council approval

 

The proposals which required Council approval were those which were funded by the use of reserves above a cumulative total of £2million, where the use of borrowing was required or a virement exceeded £0.500m. These included the following proposed changes:-

 

·                ICT - Resident and Business Digital Experience (RBDxP). A capital budget decrease of £5.228m was requested funded from borrowing along with a corresponding revenue budget increase of £5.228m funded from Capital Fund.

·                Public Sector Housing – Riverdale Maisonettes. A capital budget increase of £2.856m is requested, funded by an RCCO from the HRA.

 

The report then went on to detail the proposals that did not require Council approval which were funded by the use of external resources, use of capital receipts, use of reserves below £2million, where the proposal could be funded from existing revenue budgets or where the use of borrowing on a spend to save basis was required.  These included:-

 

·                Adults – Stepping Stone Capital Works. A capital budget increase of £0.187m was requested, funded by Capital Fund.

·                Neighbourhoods - Galleries’ Collection Housing. A capital budget increase of £1.870m was requested, funded by Capital Receipts.

·                ICT - Strategy improvements to infrastructure and resilience. A capital budget decrease of £0.879m was requested and approval of a corresponding transfer of £0.879m to the revenue budget, funded by Capital Fund.

·                Children’s Services – Externally Funded Works to Schools. A capital budget increase of £7.597m was requested, funded by Government Grant.

·                Highways Services – HS2 Specialist Support. A capital budget decrease of £0.047m was requested and approval of a corresponding transfer of £0.047m to the revenue budget, funded by Capital Fund.

 

The report highlighted that there have been increases to the programme totalling £2.981m as a result of delegated approvals since the previous report to the Executive on 17 March 2021.

 

It was also reported that if the recommendations were approved, the General Fund capital budget would increase by £6.356m across financial years, as detailed in Appendix 1.  This would also result in an increase in the prudential indicator for Capital Expenditure in corresponding years. Monitoring of all prudential indicators was included within the Capital Monitoring Report during the year.

 

It was commented that Manchester City Council was in the top three Local Authorities in the country for its investment and commitment to building affordable homes and was well on track to meeting its target of 6,400 council properties by 2026

 

It was suggested that the Officers made appropriate arrangements to publicises the positive impact this investment in access to good quality affordable housing was having on residents in the city.

 

Decisions

 

The Executive:-

 

(1)      Recommends that the Council approve the following changes to Manchester City Council’s capital programme:

·                Resident and Business Digital Experience (RBDxP). A capital budget decrease of £5.228m funded from borrowing along with a corresponding revenue budget increase of £5.228m funded from Capital Fund.

·                Riverdale Maisonettes. A capital budget increase of £2.856m, funded by an RCCO from the HRA.

(2)      Approves the following changes to the City Council’s capital programme:

·                Stepping Stone Capital Works – A capital budget increase of £0.187m, funded by Capital Fund.

·                Galleries’ Collection Housing – A capital budget increase of £1.870m, funded by Capital Receipts.

·                Strategy improvements to infrastructure and resilience – A capital budget decrease of £0.879m and corresponding transfer of £0.879m to the revenue budget, funded by Capital Fund.

·                Externally Funded Works to Schools – A capital budget increase of £7.597m, funded by Government Grant.

·                HS2 Specialist Support – A capital budget decrease of £0.047m and corresponding transfer of £0.047m to the revenue budget, funded by Capital Fund.

(3)      Note increases to the programme of £2.981m as a result of delegated approvals.

(4)      To note virements in the programme of £1m as a result of virements from approved budgets.

(5)      Request that Officers make appropriate arrangements to publicises the positive impact the Council’s investment in access to good quality affordable housing was having on residents in the city.

Supporting documents: