Issue - meetings

This report updates the General Fund Medium Term Capital Programme for the five year period ending 31 March 2026. The report provides an updated projected outturn for the General Fund capital programme in 2020/21, based on expenditure to 30 November 2020. The General Fund Medium Term Capital Programme is required to be submitted to full Council for consideration and approval as part of the budget process.

The report updated the General Fund Medium Term Capital Programme for the five year period ending 31 March 2026. The report provided an updated projected outturn for the General Fund capital programme in 2020/21, based on expenditure to 30 November 2020. The General Fund Medium Term Capital Programme is required to be submitted to full Council for consideration and approval as part of the budget process.

The Finance and Performance Scrutiny Sub-Committee had also considered this report at their meeting on 12 January 2021. The minutes of their meeting had been circulated to the Cabinet Members prior to the meeting.

Proposed by Councillor Monk,

Seconded by Councillor Peall; and

RESOLVED:

1.         That report C/20/65 be received and noted.

2.         That it be recommended to Full Council that the updated General Fund Medium Term Capital Programme as set out in appendix 2 to the report be approved.

3.         That the loan to Folkestone Parks and Pleasure Grounds Charity be extended by £43k to support the completion of the beach huts project at Marine Parade. 

(Voting figures: 7 for, 2 against, 0 abstentions).

REASONS FOR DECISION:

Cabinetis asked to agree the recommendations because:

a)             It needs to be kept informed of the existing General Fund Medium Term Capital Programme position and take appropriate action to deal with any variance from the approved budget.

b)             Proposed extensions to existing schemes are required to be considered and approved before being included in the Council’s Medium Term Capital Programme.

c)             The proposed Medium Term Capital Programme needs to be considered before it is submitted to full Council for approval as part of the budget process.

d)             The Council must also have regard to CIPFA’s Prudential Code for Capital Finance in Local Authorities when carrying out its duties under Part 1 of the Local Government Act 2003.