Agenda item

To consider a report (copy attached) to provide Members with an updated Capital Plan

The Lead Member for Finance, Corporate Plan and Performance, Councillor Julian Thompson-Hill, introduced the Capital Plan report (previously circulated) to provide Members with an updated Capital Plan including an update on major projects and the Corporate Plan.

The full Capital Plan had been last reported to Council in February 2016.  Monthly updates had been presented to Cabinet.  The estimated Capital Plan was now £38.9million.  The Plan had been updated since being report to Cabinet on 24 January 2017.

Councillor Thompson-Hill guided Members through the report.

The Leader, Councillor Hugh Evans, clarified that during the term of the current council, a very ambitious Corporate Plan had been set.  It had been Denbighshire’s intention to deliver modern schools, good highways, leisure facilities and extra care housing.  It had been an internally robust challenge.  The Leader expressed thanks to the finance officers for all their work and confirmed he supported the recommendations within the report.

Councillor Thompson-Hill responded to questions raised regarding various aspects of the Capital Plan.  Main areas of discussion focused on the following:

·       Councillor Stuart Davies queried the money being spent in Rhyl particularly for the Rhyl Aquatic Centre.  It was confirmed that Rhyl Town Council were supporting the project with a contribution of £2million towards the scheme in the same way Prestatyn Town Council had previously supported the Scala by contributing £1.1 million. Councillor Davies responded that the Town Council precepts should have been increased to fund the project further.

·       Agricultural Estates – the council own a number of units and have a strategy whereby the tenants have the right to offer to buy all or part of the buildings, and some capital receipts were as a result of sales which had gone through.

Members expressed their gratitude to the Head of Finance, Richard Weigh and his team, together with the Lead Member, Councillor Julian Thompson-Hill for all their hard work.

RESOLVED that:

·       Members note the latest position on the 2016/17 element of the Capital Plan and the update on major projects

·       Members support the recommendation of the Strategic Investment Group as detailed in Appendix 5 and summarised in Appendix 6

·       To approve the 2017/18 Capital Plan