The Chief Officer – Finance, Performance and Change presented a report, which provided Members with an update in relation to to the capital position at the end of Quarter 3 in the current financial year.

She advised, that the Council's Capital Strategy was approved by Council on the 23 February 2022. The approved capital budget approved by Council in February totalled £69.979 million. The programme was last updated and approved by Council in October last year.

Section 4 of the report outlined the current position on the Council’s capital programme in this year. The revised programme for the year totalled £61.7m with £28.2m being funded by BCBC resources and the balance of £33.5m being funded from external sources.  A breakdown of the programme across services was shown in Table 1 in the report, with more detail regarding the funding of the programme being shown in Table 2.

Details regarding individual schemes were shown in Appendix A of the report.

The Chief Officer – Finance, Performance and Change stated that Members will see that the total requested slippage at Quarter 3 is £28.5m. The reasons for the slippage was detailed at paragraph 4.4 of the report.

As well as adjustments for slippage the report also detailed some new and amended schemes for approval which included Welsh Government funding  received to fund a number of schemes including the:

o          Transforming Towns Placemaking grant to address the decline in     town centres and the reduced demand for High Street retail;

o          Housing with care funding to support the development of the children’s residential hub;

o          ULEV Transformation Fund monies to support the delivery of electric vehicle charging infrastructure within public car parks ; and

o          Access Improvement Fund Grant to support work to improve access to and on the public rights of way network.

In addition to the Welsh Government grants, funding had also been identified to fund other initiatives, to include;

•           Additional as S106 contributions to support the provision of affordable housing schemes;

•           Additional funding from the Cardiff Capital region local transport fund to support the Porthcawl bus station project;

•           Funding to support the Porthcawl Welsh medium seedling school scheme design;

•           Funding from Sport Wales to improve external facilities at Ysgol Bryn Castell for use by the schools and the community;

•           Public crossing work at Kenfig Hill; and

•           Additional funding for ICT equipment purchases for schools

There were also changes to two schemes detailed in the report, with the full revised programme being shown at Appendix B.

The Chief Officer – Finance, Performance and Change confirmed that when Council approved the Capital Strategy for this year, it included prudential indicators for 2022-23 to 2024-25. Appendix C to the report, reflected that the Council is operating within the approved local authority limits.

The Cabinet Member – Resources commended the report.

A Member asked for some clarification around the Llynfi Valley Development Loan, in that a loan suggest some monies have to be paid back, which he did not  ...  view the full minutes text for item 82