Agenda item

Capital Strategy 2017/23

Minutes:

The Assistant Director Finance & Audit introduced a report that sought the comments of the Committee on the Capital Strategy 2017/23 and the capital programme for 2017/18.

 

The key aspects of the capital programme to 2023 were summarised and it was noted that the total capital expenditure was forecast to be £297m of which £221m was General Fund and £75m was Housing Revenue Account.  The total revenue finance required to fund the borrowing requirement of £154m was £57m over 25 years.  The programme included £71m for expansion of schools in the borough; £44m for the new leisure centre and other facilities; £29m for highways and transport; and £78m for other schemes such as two new hotels and the development of the regeneration projects including the Thames Valley University site.  Members attention was also drawn to the significant increase to £1.050m in the Community Investment Fund which would support neighbourhood enhancements and other appropriate schemes identified locally by ward Members.

 

A number of specific items of the capital programme were raised including the apparent reduction in capital for SEN resource expansion beyond 2017-18.  Officers highlighted the work underway, for example at Arbour Vale, and it was highlighted that there could be more investment in future years if there was demand for more resources.  The links to the Five Year Plan were also discussed and the Interim Chief Executive commented that the Capital Strategy and Five Year Plan were closely aligned with investment in new housing and regeneration contributing to a series a strategic priorities to increase the number of new homes, attractiveness of the centre of Slough and contributing to income generation to support the Council’s revenue budget.

 

At the conclusion of the discussion, the Committee noted the Capital Strategy.

 

Resolved –  That details of the Capital Strategy 2017/23, as set out in the report, be noted.

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