Agenda item

To accept the report on the end of year review (31 March 2020 position) of the capital programme.

To note the £27,667,000 spend on the capital programme during the 2020/21 financial year, which will be included in the statutory financial statements for 2020/21.

To approve the revised financing as shown in part 4 of the report, namely:

¾    £3,000 increase in the use of borrowing

¾    £10,561,000 increase in the use of grants and contributions

¾    No change in the use of capital receipts

¾    £234,000 increase in the use of revenue contributions 

¾    No change in the use of the capital reserve

¾    £200,000 increase in the use of renewal funds and others

The report was submitted by Cllr Ioan Thomas.

DECISION

To accept the report on the end of year review (31 March 2020 position) of the capital programme.

To note the £27,667,000 spend on the capital programme during the 2020/21 financial year, which will be included in the statutory financial statements for 2020/21.

To approve the revised financing as shown in part 4 of the report, namely:

·         £3,000 increase in the use of borrowing

·         £10,561,000 increase in the use of grants and contributions

·         No change in the use of capital receipts

·         £234,000 increase in the use of revenue contributions

·         No change in the use of the capital reserve

·         £200,000 increase in the use of renewal funds and others

DISCUSSION

The report was submitted, noting that its purpose was to present the revised capital programme and to approve the relevant financing sources. It was noted that the report provided an analysis per department of the £114.6m capital programme for the three years between 2020/21 - 2022/23. It was added that the report detailed the sources to fund the net increase of approximately £11m since the previous review.  

It was noted that the Council had succeeded in spending £27.7m in 2020/21 on capital programmes, and £18.2m had been funded through specific grants. It was explained that the impact of Covid-19 and the lockdown could be seen clearly. It was added that £14.1m had been reported upon in the previous 2020/21 reviews, that a further £19.3m of proposed expenditure had been re-profiled to 2021/22 with the main schemes including the £4.5m 21st Century Schools Programme, £3.3m on Vehicle Renewal, £2.2m on Schools Maintenance which arrived in March 2021, with specific right for Welsh Government to replace current funds and slip them to the subsequent year and £1.7m for the Aberdyfi Quay scheme.

Attention was drawn to additional grants the Council had managed to attract since the previous review, which included £7.2 million from the Local Transport and Safe Routes Fund, £0.6m Ground-breaking Housing Grant to assist with reducing homelessness and £0.5m Intermediate Care Fund Grant.

The Head of Finance Department noted that the report involved capital schemes. It was added that the performance monitoring procedure would restart imminently and that capital scheme monitoring would be incorporated in this procedure as well.

Observations arising from the discussion

¾    It was noted that it was astounding that the Council would spend £64m on capital schemes over the coming year to invest in the future of the county. Staff were thanked for ensuring that schemes were in place ready for when opportunities arose, and to be so willing to make use of late grants. 

¾    Attention was drawn to some of the schemes behind the figures, specifically the circular economy schemes which highlight the substantial shift from how to deal with waste in a different way and ensuring that resources are re-used and kept in use within communities.