Issue - meetings

Asset Disposal and Capital Receipts Generated 2017/18

Meeting: 21/11/2018 - Audit Committee (Item 32)

32 Asset Disposal and Capital Receipts Generated 2017/18 pdf icon PDF 84 KB

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That the report be noted.


The Chief Officer (Housing and Assets) presented the annual report summarising land disposals and realisation of capital receipts during 2017/18.  Capital receipts were aligned to contribute towards the Council’s programme of capital schemes, consisting of both large and small scale across all portfolios.  A reminder was given of the revenue implications from capital expenditure and the reduction in Welsh Government support for capital expenditure as set out in the report.


Councillor Peers asked for a cost breakdown of the list of asset disposals as it did not appear to include a particular site.  The Chief Officer explained that the disposal in question had not been received in full as it was based on phased delivery, and that the information had been summarised to observe commercial sensitivity.  Councillor Peers sought information on the full value of that item and how much the Council would benefit from the phased approach.  The Chief Executive said that a private briefing paper would be shared with the Committee.


Sally Ellis recalled discussion on the report in 2017 on the need to regularly review the criteria for identifying potential capital receipts, particularly given the importance of maximising support for capital schemes.  The Chief Officer said that the findings of reviews undertaken across portfolios were currently being considered to assess the suitability of sites for disposal or investment, depending on market forces in those areas.  This included reviews of industrial estates whilst agricultural estates were subject to continual review.


Following the information shared, it was agreed that the update report on criteria provisionally scheduled for January was no longer required.


The Chief Executive said that projected capital receipts supporting the Capital Programme would form part of the refresh of the Medium Term Financial Strategy early in the New Year.


The Chief Officer said that this would also be reflected in the Capital Strategy which was due to be updated.




That the report be noted.