Decision - Capital Resources & Capital Investment Programme 2010/11

(1)         That Cabinet recommends Council to:

(a)      Agree the Capital Investment Programme for 2010/11 and note the estimated resources in future years as detailed in appendix 1.

(b)      Allocate £0.6m resources in 2010/11 for the Strategic Investment Fund and agree the allocation of Strategic Investment Fund resources as set out in paragraph 3.23.

(c)       Allocate £0.435m for the ICT fund.

(d)      Allocate £1.0m for the Asset Management Fund.

(e)      Agree the potential use of unsupported borrowing as set out in table 6.

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 25 February. 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 22 February.