Agenda item

Capital Funding – to consider a series of capital funding bids and associated budget adjustments.

(A) Capital Funding

The Court was recommended to approve additional budgetary provisions of up to £8.463m to fund six schemes agreed for progression outside of the Fundamental Review, namely:

·         Corporate IT Service Contract – Outsourcing Transition

·         Three Police IT Modernisation Projects (Managed Desktop, Security Zone, and Intranet and Sharepoint delivery)

·         Electrical supply works at Walbrook Wharf for electric vehicle charging

·         Urgent mechanical and electrical systems works at Walbrook Wharf

These schemes had been approved by the Policy & Resources Committee and Resource Allocation Sub-Committee, following which, the Finance Committee had approved the requisite revisions under urgency procedures. In-year budget adjustments of this nature were required to be considered by the Finance Committee, which was responsible for making subsequent recommendations concerning budget adjustments to the Court.

Resolved – That Members:-

·         Approve an allocation of up to £8.463m from the reserves of the relevant funds (as outlined in the report) to allow the six identified schemes to progress.

·         Note that this year’s capital funding bids will be assessed initially against the existing prioritisation criteria, pending new criteria to be developed via the Fundamental Review.