To consider the first Capital Investment Plan monitoring report for 2015/16 under the Authority’s agreed budget monitoring procedures which provides high-level information on capital expenditure and funding for the year compared with the latest budget position as reported to Council in February 2015 and the recommendations from the Overview and Scrutiny Board set out in the submitted report.

The Council considered the submitted report setting out an overview of the Council’s approved Capital Investment Plan for quarter one.  The report provided details of capital expenditure and funding for the year compared with the latest budget position reported to the Council in February 2015.   A revised officer recommendation was circulated at the meeting.

It was proposed by the Mayor and seconded by Councillor Mills:

(i)         that the latest position for the Council’s Capital expenditure and funding for 2015/16 as set out in the submitted report be noted;

(ii)        that the remaining £0.106 million Condition Funding allocation to Children’s Services be approved.  (The 2015/16 Department for Education allocation is £0.506 million, of which £0.4 million has previously been approved for Furzeham Primary improvements – Council February 2015.);

(iii)       that the allocation of 2017/18 Basic Need grant allocation of £4.229 million, (of which £1.363 million previously approved), together with an additional £2 million of future year (2018/19) allocations to Children’s Services to enable the provision of a new Primary School in Paignton and provide additional Secondary School places in Torquay be approved;  and

(iv)       that £0.3 million be reallocated from the sale of assets and/or any underspend in the current capital programme, excluding any funds allocated to affordable housing, to expand and regenerate the Strand in Torquay.

On being put to the vote, the motion was declared carried.

(Note  1:  The Mayor and Councillor Mills accepted the amendment tabled by Councillor Darling and Carter in the original motion.)

(Note 2:  During consideration of Minute 67, Councillor O’Dwyer declared his non-pecuniary interest as set out in Minute 56.)

To consider a report on the Capital Investment Plan for Quarter 1 of 2015/2016.

The Board considered the Capital Investment Plan Update – 2015/16 Quarter One.

The report presented to the Board recommended that £1m from uncommitted affordable housing budget be reallocated to a capital projects fund.  The Board raised concerns regarding the recommendation to reallocate £1m given that the Housing Strategy was currently being developed.   

Resolved: the Board recommends that funding be not reallocated until the Housing Strategy has been developed and demonstrates how the Council will meet housing need without this funding.