Agenda item

Report of the Chamberlain.

The Committee considered a report of the Chamberlain concerning capital prioritisation and the 2020/21 round of annual capital bids.

Members noted that this report had been discussed earlier in the day at the Resource Allocation Sub-Committee, where there had been particular discussion in relation to the bid for up to £1.9m for the Wanstead Flats Artificial Grass Pitches project, to be met from City’s Cash. It was advised that, following discussion, Members had agreed in principle to support the bid, subject to clarification on a particular item concerning arrangements with a third-party contributor and potential reprioritisation of funding to accommodate this, and had recommended that authority be delegated to the Town Clerk in consultation with the Chair and Deputy Chairman to approve the various proposals as a result, following the receipt of said clarification.

The Chairman of Finance spoke to express his concerns in relation to financial discipline and made reference the wider discussion at the Resource Allocation Sub-Committee earlier that day. Other Members of the Resource Allocation Sub-Committee spoke to challenge the assessment of the position, following which the Chair acknowledged that difficult decisions would need to be taken over the coming months and, as detailed discussion on future decisions may stray into categories exempt under the Local Government Act, asked that further debate be reserved for the non-public session. 

RESOLVED: That:-

1.      Authority be delegated to the Town Clerk, in consultation with the Chair and Deputy Chairman, to:-

a)     To review the four schemes listed in Table 1 (detailed in paragraph 7) and, in the context of the current crisis, to confirm their continued essential priority for release of funding at this time.

b)     That subject to this confirmation, to agree to the release of up to £5.057m for schemes (i) to (vi) from the reserves of the three funds as set out in Table 1, subject to the approval of the relevant gateway reports.

c)      To consider the ‘in principle’ allocation of central funding for the three new schemes submitted outside of the 2020/21 annual bid process (detailed in paragraph 8):

(i)      Transportation response to Covid-19 Phase 3 – up to £568.5k (City Fund)

(ii)     COLPAI Temporary Accommodation additional costs £283.1k (City’s Cash)

(iii)    Wanstead Flats Artificial Grass Pitches £1.9m (City’s Cash)

d)     That, subject to ‘in principle’ approval of bids (i) and (ii) above, approval be granted to the immediate release of funding of up to £568.5k from the On-Street Parking Reserve (also noting the loss of £336k in potential income) and £283.1k from the City’s Cash provision, with funding to be identified from within the approved provisions set aside for the 2020/21 capital bids.

2.         It be noted that an assessment of the financial impact and practical implications of Covid-19 on the 46 approved 2020/21 annual bids was underway to identify schemes for possible deferral, with a view to identifying substitute funding for the new bids.

3.         It be noted that officers were being encouraged, in the first instance, to explore the opportunities to de-scope projects to contain increased costs arising from Covid-19 within the existing funding envelope.