Issue - items at meetings - Capital Resources & Capital Investment Programme 2010/2011

Report of the Director of Children’s Services (copy attached).

1.       That the level of available capital resources totalling £30.558m for investment relating to education buildings financed from supported borrowing, capital grant, revenue contributions and capital receipts be noted.

38.1    The Cabinet Member considered a report of the Director of Children’s Services concerning the Capital Resources and Capital Investment Programme 2010/2011, which informed the Cabinet Member of the level of available capital resources allocated to the CYPT for 2010/11 (for copy see minute book).

38.2    The Opposition Spokesperson, Green Group, sought clarification on the following points:

§          whether the Capital Grant listed under the Capital Finance settlement in paragraph 3.5 of the report included the £5.7m allocated to the city under the Basic Need Safety Valve

§          whether the council was confident that it could bear the borrowing cost referred to in paragraph 3.7 of the report

§          the provision of caretakers flats at the Swan Centre referred to in appendix 1 to the report.

38.3    It was explained that the Capital Grant referred to above includes the £5.7m funding, which had been allocated to deal solely with the need of additional primary school places in the city.

38.4    The Head of Capital Strategy and Development referred to the concern raised in relation to the borrowing and indicated that the view was that the council would be able to bear the cost of it. She advised that Cabinet would be considering this matter at a future meeting with the full recommendations of the CYPT Capital Investment Programme for 2010/11.

38.5    RESOLVED – That, having considered the information and the reasons set out in the report, the Cabinet Member accepted the following recommendation:

(1)       That the level of available capital resources totalling £30.558m for investment relating to education buildings financed from supported borrowing, capital grant, revenue contributions and capital receipts be noted.