Decision - Capital Resources & Capital Investment Programme 2011/12

To agree the planned capital investment programme for all council services and recommend approval by Full Council.

(1)         That Cabinet recommends to Council the following:

§         The Capital Investment Programme for 2011/12 and note the estimated resources in future years as detailed in appendix 1.

§         To allocate £0.5m resources in 2011/12 for the Strategic Investment Fund for the purposes set out in paragraph 3.26.

§         To allocate £0.5m for the ICT fund.

§         To allocate £1.0m for the Asset Management Fund.

§         The potential use of council borrowing as set out in table 5.

The council is under a statutory duty to set its council tax and budget before 11 March each year. The recommendations to Budget Council contained within this report together with the recommendations in the revenue budget report, will enable the council to meet its statutory duty.

The budget process allows all parties to put forward viable alternative capital investment proposals to Budget Council on 3 March 2011. Budget Council has the opportunity to debate both the proposals put forward by Cabinet at the same time as any viable alternative proposals. All budget amendments must have been “signed off” by finance officers no later than 12.00 noon on 28 February.