The Interim Chief Officer – Finance, Performance and Change submitted a report, in respect of a Capital Programme update for the above mentioned quarter period.
She reminded Members, that on 26 February 2020, Council approved a capital programme covering the period 2020-21 to 2029-30 as part of the Medium Term Financial Strategy (MTFS). The capital programme was last updated and approved by Council on 21 October 2020. This report provided an update on the following areas:
• Capital Programme 2020-21 Quarter 3 update;
• Capital Programme 2020-21 Onwards;
• Prudential and Other Indicators;
• Capital Strategy monitoring
Turning to the Capital Programme, the Chief Officer – Finance, Performance and Change, referred to paragraph 4.1 of the report. This section of the report provided Members with an update on the Council’s
capital programme for 2020-21 since the budget was last approved by Council and incorporates any new schemes and grant approvals. The revised programme for 2020-21 currently totals £33.888 million, of which £17.960 million is met from Bridgend County Borough Council (BCBC) resources, including capital receipts and revenue contributions from earmarked reserves, with the remaining £15.928 million coming from external resources, including General Capital Grant.
Table 1 in this section of the report, showed the capital programme for each
Directorate from the October 2020 (Quarter 2) approved Council position to quarter 3.
Table 2, then summarised the current funding assumptions for the capital
programme for 2020-21. The capital resources were managed to ensure that maximum financial benefit for the Council was achieved. This may include the re-alignment of funding to maximise government grants, she explained.
The Interim Chief Officer – Finance, Performance and Change then referred to Appendix A of the report, which provided details of the individual schemes within the capital programme, showing the budget available in 2020-21 compared to the projected spend.
A number of schemes had already been identified as requiring slippage of
budget to future years, particularly since the pandemic had emerged. At quarter 3 the total requested slippage was £14.536 million. Details of these schemes were outlined in paragraph 4.4 of the report.
She advised that since the last capital report in October 2020, there had been a number of new externally funded schemes approved and internally funded schemes, which had been incorporated into the capital programme. These were included on pages 63/65 of the report, with a Revised Capital Programme included at Appendix B (to the report).
In February 2020, Council approved the Capital Strategy for 2020-21, which
included the Prudential Indicators 2020-21 to 2022-23, together with some local indicators.
Appendix C to the report detailed the actual indicators for 2019-20, the estimated indicators for 2020-21 set out in the Council’s Capital Strategy and the projected indicators for 2020-21 based on the revised Capital Programme. These showed that the Council was operating in line with the approved limits.
The Interim Chief Officer – Finance, Performance and Change concluded, by giving a short narrative on the Council’s Capital Strategy.
The Deputy Leader confirmed that the Covid-19 pandemic had impacted detrimentally in a huge way upon the Council’s Capital Programme and this had been outside of the control of the Authority.
He advised that he was happy to see the award of funding from WG for the Berwyn Centre and Ogmore Vale washeries, which would go towards improving outdoor facilities in the area. This was welcomed by residents in the Ogmore Valley.
The Leader similarly welcomed funding for road safety improvements at Heol Mostyn junction, Pyle, which would assist motorists travelling in this vicinity. He hoped this funding would be able to be carried forward and used in the next financial year.
The Cabinet Member – Social Services and Early Help added that the funding for the Trem-y-Mor development was sorely needed and if realised, would take advantage of the partnership working that had been developed with the Health Authority and the ICF funding that has been received to date, that had assisted in the development of the Integrated Care team at Trem-y-Mor.
RESOLVED: That Cabinet:
· Noted the Council’s capital programme for 2020-21 for the period to 31 December 2020 (Appendix A to the report);
· Agreed that the revised Capital Programme (Appendix B) be submitted to Council for approval;
· Noted the projected Prudential and Other Indicators for 2020-21 (Appendix C to the report).