Agenda item

Capital and Supplementary Revenue Project Funding - Fundamental Review and Interim Revised Prioritisation Process

Minutes:

Members considered a report of the Chamberlain concerning a fundamental review of capital and supplementary revenue project funding an interim revised prioritisation process.

 

Members considered the criteria of the fundamental review, and noted that only schemes that met this criteria would be fully funded. Bids needed to be accompanied by sound business cases. Whilst there may be exceptions for this scheme for loan funding, these loan bids would still go through a prioritisation process.

 

The Committee noted that the Policy & Resources Committee would need to agree on setting up a special meeting of Resource Allocation Sub Committee in March to use the criteria of the fundamental review to scrutinise the bids and prioritise resources.

 

RESOLVED, that:

·         The incorporation of pipeline/all new capital and SRP projects within the fundamental review for spend for 2020/21 and beyond be approved;

·         The prioritisation of existing capital schemes in 2019/20 that have not yet entered Gateway 5 of the Projects Procedure be approved, using the criteria set out in the report;

·         The prioritisation of new capital projects in 2019/20 be approved in accordance with the criteria as set out in the report;

·         Authority be delegated to the Chamberlain to determine financing of the capital budgets.

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