Issue - meetings

Capital Budget Update

Meeting: 16/11/2023 - Executive (Item 545)

545 Capital Programme Update 2023/24 pdf icon PDF 118 KB

Decision:

RESOLVED

 

KEY DECISION

 

That the Executive:

 

i)      Approved the following changes into the capital programme:

 

a.             Smart Equipment for Long Covid (SELC) - budget approval for £158k, in 2023/24 which is to be funded from the Contain Outbreak Management Fund (COMF) grant.

b.             Kettering Library Roof replacement and associated work to the roof of the Art Gallery – budget approval for £6.807m in 2023/24 which is to be funded from borrowing.

 

ii)     Recommended to Council to approve borrowing for the costs associated with the restoration and preservation work required for the Kettering Library Roof and associated work relating to the roof of the Art Gallery.  This is in accordance with the Council's Constitution to approve all borrowing requests.

 

 

Reasons for Recommendations: These are set out in greater detail within section 5 of the report, but can be summarised as:

 

·        To meet corporate plan objectives, specifically “active, fulfilled lives”.

·        To enable the Council to continue to deliver its library functions within Kettering town centre.

 

Alternative Options Considered:

 

·        Schemes in this report which are grant funded are in accordance with the requirements of the grant conditions so there is no alternative option proposed in this report. 

 

·        Where individual schemes are over £0.5m, separate reports are included elsewhere on this agenda which set out the wider options that were considered before reaching the proposals put forward.

 

Minutes:

The Chair invited Cllr Lloyd Bunday, Executive Member for Finance and Transformation to introduce a report that requested approval for capital schemes that had come forward for inclusion in the Council’s Capital Programme. Approval of the funding would allow the schemes to move forward to procurement and delivery. Two schemes were highlighted as per the report and recommendation below.

 

The Executive also recommended to Council to approve borrowing for the costs associated with the restoration and preservation work required for the Kettering Library Roof and associated work relating to the roof of the Art Gallery.

 

 

RESOLVED

 

KEY DECISION

 

That the Executive:

 

i)      Approved the following changes into the capital programme:

 

a.             Smart Equipment for Long Covid (SELC) - budget approval for £158k, in 2023/24 which is to be funded from the Contain Outbreak Management Fund (COMF) grant.

b.             Kettering Library Roof replacement and associated work to the roof of the Art Gallery – budget approval for £6.807m in 2023/24 which is to be funded from borrowing.

 

ii)     Recommended to Council to approve borrowing for the costs associated with the restoration and preservation work required for the Kettering Library Roof and associated work relating to the roof of the Art Gallery.  This is in accordance with the Council's Constitution to approve all borrowing requests.

 

 

Reasons for Recommendations: These are set out in greater detail within section 5 of the report, but can be summarised as:

 

·        To meet corporate plan objectives, specifically “active, fulfilled lives”.

·        To enable the Council to continue to deliver its library functions within Kettering town centre.

 

Alternative Options Considered:

 

·        Schemes in this report which are grant funded are in accordance with the requirements of the grant conditions so there is no alternative option proposed in this report. 

 

·        Where individual schemes are over £0.5m, separate reports are included elsewhere on this agenda which set out the wider options that were considered before reaching the proposals put forward.