Capital Plan totals £288 million for the 4-year programme to 31 March 2025 with £43 million scheduled to be spent in 2021/22 and £114 million due to be spent in 2022/23.

Of the £114m, £68m has been allocated to specific projects and £46m is Council borrowing approvals awaiting proposals. The Capital Plan is updated by project managers on a quarterly basis which will result in regular re profiling of budgets to reflect the latest estimate of the timing of expenditure on each project.

This page provides high-level information on the proposed capital expenditure and funding for 2022/23 and is part of the total Plan. Shown against the targeted actions of our Community and Corporate Plan, it gives details of the capital schemes which have previously been approved by the Council. However, in some cases, it sets out funding which has been allocated to services but where specific schemes have not yet been identified.

In accordance with our Constitution, the figures presented will form the approved capital budget for the coming year. The figures are based on the (draft) Quarter 3 2021/22 capital monitoring report which forms the basis of the 2022/23 Capital Budget. In addition, the 2022/23 Capital budget now includes three new allocations, (Car Parks investment £1m, Climate Change initiatives £1m and capital cost inflation and supply chain contingency £4m), which are funded from prudential borrowing where the cost of interest and MRP are included in the 2022/23 revenue budget. The approval process for each of the three new allocations is outlined in the scheme detail.

Capital Expenditure 2020/21
Corporate Vision/Area £m %
Thriving People and Communities 23.889 21
Thriving Economy 39.629 35
Tackling Climate Change 4.775 4
A Council fit for the Future 0.065 0
Council Borrowing Approvals Awaiting Proposals 45.591 40
Total Capital Expenditure 2020/21 135.949 100

Details of how the Council is intending to fund the expenditure in the capital plan is as follows:

Funding the expenditure in the capital plan
Source of funding £m %
Prudential Borrowing 73.131 64
Capital Grants 37.913 33
Capital Contributions 0.705 1
Revenue Contributions 0.119 0
Use of Reserves 0.206 0
Capital Receipts 1.875 2
Total Capital Funding 113.949 100