Agenda item

Report of the Chamberlain

The Sub Committee considered a report of the Chamberlain regarding capital prioritisation and the 2020/21 and 2021/22 rounds of annual capital bids. The Chamberlain introduced the report and outlined the proposals recommended.

RESOLVED – That the Resource Allocation Sub Committee:

(i)            Review the schemes summarised in Table 1 and, particularly in the context of the current financial climate, confirm their continued essential priority for release of funding at this time;

(ii)           Agree the release of up to £2.93m for the schemes in Table 1 from the reserves of City Fund and City’s Cash, subject to the required gateway approvals;

(iii)          Note that in order to maintain sound financial discipline a review of unallocated central project funding provisions will be brought to Members before the summer recess.