Issue - items at meetings - Capital Resources & Capital Investment Programme 2009/10

Report of the Interim Director of Finance & Resources (copy attached)

To recommend to Council the following:-

• The Capital Investment Programme for 2009/10 and note the estimated resources in future years as detailed in appendix 2.
• To allocate £0.65m resources in 2009/10 for the Strategic Investment Fund and agree the allocation of Strategic Investment Fund resources as set out in paragraph 3.17.
• To allocate £0.685m for the ICT fund.
• To allocate £1.0m for the Asset Management Fund.
• To allocate £0.5m toward the Brighton Centre redevelopment reserve.
• The potential use of unsupported borrowing as set out in Table 4.

170.1    The Cabinet considered a report of the Interim Director of Finance & Resources that provided information about the level of available capital resources and recommended a Capital Investment Programme for 2009/10. The capital programme was set in the context of the Medium Term Financial Strategy approved by Cabinet (for copy see minute book).

170.2    RESOLVED - That, having considered the information and the reasons set out in the report, the Cabinet accepted the following recommendations:

(1)   To recommend to Council the following:-

• The Capital Investment Programme for 2009/10 and note the estimated resources in future years as detailed in appendix 2 of the report.

• To allocate £0.65m resources in 2009/10 for the Strategic Investment Fund and agree the allocation of Strategic Investment Fund resources as set out in paragraph 3.17of the report

• To allocate £0.685m for the ICT fund.

• To allocate £1.0m for the Asset Management Fund

• To allocate £0.5m toward the Brighton Centre redevelopment reserve.

• The potential use of unsupported borrowing as set out in Table 4 of the report.