Agenda item

Division/Wards Affected: All

Purpose: To outline the proposed capital budget for 2017/18 and the indicative capital budgets for the three years 2018/19 to 2020/21.

Author: Joy Robson – Head of Finance

Contact Details: joyrobson@monmouthshire.gov.uk

·         That Cabinet issues its draft capital budget proposals for 2017/18 to 2020/21 for consultation purposes as set out and referred to in Appendix 2.

·         That Cabinet confirms a capital strategy, which seeks to prioritise the Council’s Future Schools programme and other commitments whilst also continuing to finance a minimum core capital programme, recognizing the risks associated with this approach.

·         That Cabinet reviews the priorities in the Capital programme in the light of the issues raised in 3.7 and other demands for capital resources.

·         That Cabinet reaffirms the principle that new schemes can only be added to the programme if the business case demonstrates that they are self-financing or the scheme is deemed a higher priority than current schemes in the programme and therefore displaces it.

·         That Cabinet agrees to maximize the use of capital receipts when received to fund the capital programme (therefore reducing the need to borrow) and/or set aside to repay debt as outlined in paragraph 3.10.

·         That Cabinet agrees to the sale of the assets in accordance with the Asset Management Plan and identified in the exempt background paper in order to support the capital programme, and that once agreed, no further options are considered for these assets.