Report of Cllr David Molyneux, Portfolio Leader for Resources.
1. That the current 2021/22 forecast, of £681m million, compared to the 2021/22 capital budget of £439m, be noted.
2. That the addition to the Capital Programme of the GM Clean Air Zone (part of the Greater Manchester Clean Air Plan), as outlined in section 9 of the report, with a current forecast expenditure of £18.4 million in 2021/22, £18.8 million in 2022/23 and £9.5 million in 2023/24 be approved.
3. That the addition to the Capital Programme of the Clean Funds Scheme (part of the Greater Manchester Clean Air Plan), as outlined in section 9 of the report, with a current forecast expenditure of £5.1 million in 2021/22, £73.2 million in 2022/23 and £31.3 million in 2023/24, be approved.
4. That the addition of Bus Franchising to the Capital Programme be noted and the additional capital expenditure of £24.6 million in 2021/22, as outlined in section 10 of the report, be approved.
5. That, in line with the financial strategy, incremental prudential borrowings of up to £15.7 million in 2021/22 to finance depot and land acquisition capital expenditure for Bus Franchising, be approved.
6. That it be noted that Bus Franchising capital expenditure, and the related interest and repayment costs, be, as appropriate, funded from the overall financial strategy as previously approved by the GMCA.
7. That authority be delegated to the GMCA Treasurer and the TfGM Finance and Corporate Services Director to determine the optimum funding mix between Earnback Capital grant and Prudential Borrowings for Bus Franchising capital expenditure.
8. That the addition to the capital programme of the Affordable Homes, Public Sector Decarbonisation, Homelessness Rough Sleeper Programme and Green Homes Grant schemes, outlined in section 14 of the report, be approved.