Issue - meetings

Division/Wards Affected: All

Purpose: To set out draft capital budget proposals for financial year 2021/22 and the indicative capital budgets for the three years 2022/23 to 2024/25.

To commence a period of consultation on the draft budget proposals for a four-week period to 17th February 2021.

Author: Peter Davies, Chief Officer for Resources

Contact Details: peterdavies@monmouthshire.gov.uk

That Cabinet approves the release of its draft capital budget proposals for 2021/22 for consultation purposes.

That Cabinet considers whether draft budget proposals are reasonable and appropriate in light of the capital pressures identified in Appendix 1.

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 notes the capital receipt receipts forecast in appendix 6 (exempt), and the prudence not to anticipate further significant additional receipts over this next 4-year MTFP window, until the uncertainties identified in paragraph 3.8 have been resolved.

That Cabinet specifically approves the use of £1.7m 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 2021/22.

That Cabinet considers and re-affirms its agreement to the prudential indicators supplied in Appendix 7 and its interpretation in paragraph 3.14 of this report.

That Cabinet issues its draft capital budget proposals for 2020/21 and indicative capital budgets for 2022/23 to 2024/25 for consultation purposes as set out in Appendix 3.