Report of the Chamberlain.
Minutes:
The Committee considered a Report of the Chamberlain concerning Capital Funding in 2022/23.
RESOLVED – that the Committee:
· Noted the total value of City Fund and City’s Cash bids amounting to £61.9m against a target upper limit of £30m (excl BHE).
· Reviewed the initial RAG rating of £24.3m green, £29.3m amber and £8.4m red contained in the appendices (determined in consultation with senior officers).
· Agreed that, subject to Member feedback, funding for the green bids be incorporated into the medium-term financial plans, providing they remain within the £30m overall limits for City Fund and City’s Cash and remain at a similar modest level for Bridge House.
· Agreed in principle that bids with a final RAG rating of amber and red be deferred, subject to further consideration of reduced funding options for the three schemes highlighted in the RASC draft minute.
· Agreed that amber-rated bids be placed on a reserve list to be progressed in the event that funding headroom is identified.
· Noted that the final decision on the green-rated bids for inclusion in the 2022/23 draft budgets will be confirmed at the joint meeting of RASC and the service committee and Bridge House Estates Board chairmen in January 2022.
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