Issue - decisions

Cabinet received a report and was informed that changes to budgets within the Council’s Capital Programme, where they reprofile or realign the programme agreed at Council, require a Key Decision under the Council’s Constitution.  The Reprofiles, Releases and Reallocations in this report have been recommended via the Member-Led Capital Boards - Property Board, Highways Board, HIF Board, or Corporate Capital Investment Board.

The Capital Boards had recommended reductions to the Capital Programme of £13.9m from £163.6m at Quarter 2 to £149.7m. This had been factored into the Quarter 3 Capital budget monitoring report.  These changes related to:

-                      Re-profiled into future years - £19.6m, across a range of projects.

-                      Re-profiling funding brought forward - £2.6m, relating to Swan Car Park major works, SEALR phase 2 and the Princes Risborough Relief Road.

-                      Released funding - £1.4m, to address inflationary pressures in the Capital Programme the Corporate Capital Investment Board had recommended to release the budgets for projects relating to Housing Renovation grants, some specific buildings maintenance, property investment projects in Wycombe, a contribution to the CCG for adaptations to GP surgeries and for Respite Care.

-                      Reallocation’s - £2.0m, across a range of projects.

-                      Technical Additions of Ringfenced Funding - £2.5m, relating to Leisure and Open Spaces funded schemes, new Road Safety projects (funded by HS2) and for the Wendover Community Library Hub.

The technical additions in the report were for new ringfenced funding (specific grants, and specific s.106), and the s.151 officer had delegated authority to make additions to the Capital Programme for these. The changes were required to be formally approved by Cabinet or Leader decision.

RESOLVED –

That the recommended amendments to the approved Capital Programme be APPROVED.