To consider the recommendations of the Cabinet and the submitted report that sets out a high-level budget summary of the Council’s revenue and capital position for the financial year 2023/24. The report was based on the final outturn position for the year ended 31 March 2024.

The Council received the submitted report setting out a high-level budget summary of the Council’s revenue and capital position for the financial year 2023/24 and final outturn position for the year ending 31 March 2024.  The report also set out recommendations for the inclusion of the Paignton and Preston coastal defence project into the Capital Investment Plan and allocation of funding for the Brixham Port Infrastructure project and Paignton tec park project.  The Council considered the recommendations of the Cabinet.

Councillor Tyerman proposed and Councillor David Thomas seconded a motion as set out below:

that Cabinet recommends to Council:

1.         that Council notes the revenue outturn position and approves the transfer of the £0.678m end of year surplus as follows:

·         £400,000 transferred to an earmarked capital reserve to assist with delivery of the Capital Investment Programme;  and

·         the balance transferred to the Comprehensive Spending Review (CSR) reserve and used to fund one off activities to accelerate the delivery of Operation Brighter Bay;

2.         that Council approve the addition of the Paignton and Preston coastal defence project, into the Capital Investment Plan at a value of £17.515m, subject to:

a)      securing the required funding from the Environmental Agency (£9.441m);  and

b)      production of a compliant Full Business Case being discussed and supported at Capital Growth Board and approval from Cabinet (Outline Business Case attached as Appendix 4 to the submitted report);

3.         that delegated authority be given to the Divisional Director of Economy, Environment and Infrastructure in consultation with the Section 151 officer and Portfolio Holder for Finance and Housing to award the contract of works for the delivery of the Paignton and Preston coastal defence project;  and

4.         following receipt of £20m grant funding from the round 3 of Levelling Up Funds (LUF3) approval is given for feasibility funding to progress the following projects to the next stage:

4.1       Brixham port infrastructure project. Initial allocation of £75k to be drawn down for feasibility works;  and

4.2       Paignton tec park project - Initial allocation of £85k to be drawn down for feasibility works.

During the debate Councillor Long proposed and Councillor Penney seconded an

amendment to the motion as follows:

that Cabinet recommends to Council:

1.         that Council notes the revenue outturn position and approves the transfer of the £0.678m end of year surplus as follows:

·         £400,000 transferred to an earmarked capital reserve to assist with delivery of the Capital Investment Programme;  and

·         the balance transferred to the Comprehensive Spending Review (CSR) reserve and used to fund one off activities to accelerate the delivery of Operation Brighter Bay;

2.         that Council approve the addition of the Paignton and Preston coastal defence project, into the Capital Investment Plan at a value of £17.515m, subject to:

a)      securing the required funding from the Environmental Agency (£9.441m);  and

b)      production of a compliant Full Business Case being discussed and supported at Capital Growth Board and approval from Cabinet (Outline Business Case attached as Appendix 4 to the submitted report);

3.         that delegated authority be given to the Divisional Director of Economy, Environment and Infrastructure in consultation with the Section 151 officer and Portfolio Holder for Finance and Housing to award the contract of works for the delivery of the Paignton and Preston coastal defence project;  and

4.         following receipt of £20m grant funding from the round 3 of Levelling Up Funds (LUF3) approval is given for feasibility funding to progress the following projects to the next stage:

4.1 Brixham port infrastructure project. Initial allocation of £75k to be drawn down for feasibility works;  and

4.2 Paignton tec park project - Initial allocation of £85k to be drawn down for feasibility works;  and

5.         That future reports on Capital projects are presented to the Council as separate and standalone reports from budget monitoring reports, in order to provide more detail.

The amendment was put to the vote and declared lost.

Councillor Tyerman’s and Councillor David Thomas’ original motion was then considered by the Council which was agreed, as set out below:

1.         that Council notes the revenue outturn position and approves the transfer of the £0.678m end of year surplus as follows:

·         £400,000 transferred to an earmarked capital reserve to assist with delivery of the Capital Investment Programme;  and

·         the balance transferred to the Comprehensive Spending Review (CSR) reserve and used to fund one off activities to accelerate the delivery of Operation Brighter Bay;

2.         that Council approve the addition of the Paignton and Preston coastal defence project, into the Capital Investment Plan at a value of £17.515m, subject to:

a)      securing the required funding from the Environmental Agency (£9.441m);  and

b)      production of a compliant Full Business Case being discussed and supported at Capital Growth Board and approval from Cabinet (Outline Business Case attached as Appendix 4 to the submitted report);

3.         that delegated authority be given to the Divisional Director of Economy, Environment and Infrastructure in consultation with the Section 151 officer and Portfolio Holder for Finance and Housing to award the contract of works for the delivery of the Paignton and Preston coastal defence project;  and

4.         following receipt of £20m grant funding from the round 3 of Levelling Up Funds (LUF3) approval is given for feasibility funding to progress the following projects to the next stage:

4.1       Brixham port infrastructure project. Initial allocation of £75k to be drawn down for feasibility works;

4.2       Paignton tec park project - Initial allocation of £85k to be drawn down for feasibility works.