Full text of "Cabinet"
Report of: Director of Resources
Date: 17 May 2021
Cabinet Portfolio: Finance
COUNTY COUNCIL BUDGET
CAPITAL PROGRAMME UPDATE MAY 2021
e Concept Bids — feasibility costs required to progress prospective capital projects to
Full Business Case. Costs are the maximum required.
Costs can be capitalised once they can be directly attributed to an asset.
e Full Business Cases — new projects to be included in the current capital
Details of which are attached in Appendix A.
Comments by Director of Resources
Feasibility costs will initially be funded from the Programme for Administration Reserve.
In respect of the new capital bids to be considered, Full Business Case cost of
£11,095,779 will be offset by external funding of £10,318,267. Cost to the Authority will be
£777,512, however this figure will reduce if additional external funding is secured. Unless
funded from service revenue budgets, any borrowing costs will count towards the current
£14.07m per annum capital financing costs cap.
As illustrated within the County Council Budget 2021-22 and Medium Term Financial Plan
2021-22-2024-25 reported for Full Council on 4 March 2021, an additional £10m prudential
borrowing in 2021-22 shows there is only £0.06m capacity within the proposed cap before
it is exceeded. Capital financing costs will be revised to take into account the updated
Comments by Head of Legal and Democratic Services
There are no legal issues arising from this report.
Comments by Head of Human Resources
There are no human resources issues arising from this report.
The Capital Programme has been considered against the five ways of working (long term,
prevention, integration, collaboration, involvement) in the Well-being of Future Generations
sustainable development principle. Important issues to note are:
The Capital Programme is set in the context
Long term of the Medium Term Financial Plan to ensure
that services are affordable into the long
Investment in our assets is an effective way
Prevention to assist in the delivery of revenue savings
via reduced maintenance and running costs.
This report was produced alongside the
Integration Capital Strategy, which underpins the
Council's Well-being objectives set out in the
Corporate Plan, the Pembrokeshire Public
Services Board Well-Being Plan as well as
considering the wider strategic influences.
securing external funding for new schemes
Collaboration is a high priority. This will ensure we
minimise the financial pressure to The
Stakeholders were involved in the
Involvement commencement of new projects
The amended capital programme is unlikely to impact on the Equality Act 2010.
The amended capital programme is unlikely to impact on the Council's obligations under
the Welsh Language Standard Regulation 2015.
As set out in Appendix A to this report:
e To approve the additions to the Capital Programme for 2021-22.
Reason for Recommendation
To comply with statutory requirements and the Councils Capital Strategy 2021-22 to 2024-
e Capital Strategy 2021-22 to 2024-25 (Council 4 March 2021)
e County Council Budget 2021-22 and MTFP 2021-21 to 2024-25 (Council 4 March