Decision details

That Cabinet approves the release of its draft capital budget proposals for 2022/23 and indicative capital budgets for 2023/24 to 2025/26 as set out in appendix 5 for consultation purposes.

That Cabinet note the reduction in core general capital grant of £762,000 highlighted in the provisional settlement received from Welsh Government that creates a funding shortfall and will require an assessment of the affordability of the existing programme prior to final capital proposals being presented.

That Cabinet notes the capital bids put forward in appendix 1 that would require additional funding over and above that contained in the existing programme, and requests that further scrutiny is carried out of these bids prior to them being considered for inclusion in the final budget proposals.

That Cabinet confirms that the draft capital budget proposals for 2022/23 are wholly aligned with the priorities as set out in the Capital strategy, the Corporate Plan and the latest iteration of its strategic aims, and that looks to maintain focus on the longer term challenges facing communities.

That Cabinet reaffirms the principle that new capital schemes can only be added to the capital programme if the business case demonstrates that either:

· they are self-financing

· the scheme is deemed a higher priority, utilising the priority matrix in the Capital Strategy, than current schemes in the capital programme and displaces them

· they do not compromise the core principles of affordability, sustainability or prudence

That Cabinet considers whether the draft budget proposals are reasonable and appropriate in light of the backlog capital pressures identified in appendix

That Cabinet notes the capital receipt receipts forecast in appendix 8 (exempt), and the prudence not to anticipate further significant additional receipts over this next 4-year MTFP window.

That Cabinet specifically approves the use of £2.65m of capital receipts, using Welsh Government guidance on the flexible use of capital receipts to fund revenue costs associated with service reform, to support the draft revenue budget proposals for 2022/23.

That Cabinet considers and re-affirms its agreement to the prudential indicators supplied in appendix 9 that are based on the current draft revenue and capital budgets.