Agenda item

Report of the Chamberlain.

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.