Public reports pack PDF 3 MB - Blaby District Council

Group as part of the Local Authority Mortgage Scheme. This scheme is aimed
at first time buyers and the advance equated to the Council’s share of
financial assistance through the provision of an indemnity. The scheme has
proven to be a great success and the Council, therefore, agreed to support
the scheme with a further £1m advance which was transferred to Lloyds in
July 2012. This additional £1m has now been fully utilised and additional
funds from Leicestershire County Council are in the process of being made
available to Blaby District residents.
6.3.8 Along with East Midlands Housing Association, the Council has also
contributed £50,000 from its New Homes Bonus grant allocation towards
bringing empty homes back into use on a purchase and repair basis. It is
estimated that the Council’s contributions will lead to 2 to 3 empty properties
being brought back into use during this financial year.
6.3.9 Included within the 2011/12 capital programme was an amount of £175,000
for the replacement Revenues and Benefits system. The remaining amount of
£105,000 was brought forward into this financial year and this project is
anticipated to be delivered in the coming months. A further provision of
£25,000 has been included within the revised capital programme to make
allowance for additional staffing costs during the ‘go live’ period. This will
ensure any backlogs that have built up over the ‘go live’ period is processed
quickly and brought fully up to date. Provision has been made for the resource
requirements for both the Revenues and Benefits departments.
This project was funded through spend to save reserves and the payback
period including this additional expense is still within a five year period.
6.3.10 Spend on Disabled Facilities Grants is shown in the table below. Although
this only equates to 47% of available DFG resources, it is expected to require
the ability to commit 2013/14 funding towards the end of this financial year to
allow an earlier start on next year’s grant awards. Of the £626,185 2012/13
funding, £409,354 is funded through borrowing.
Brought Forward from 2011/12 209,354
New resources made available in 2012/13 416,831
Expenditure to date (238,062)
Commitments to date (91,692)
Balance Carried Forward 296,432
6.3.11 The improvements to the Pavilion and the development of a golf range are
included within the Capital Programme and Appendix B in line with the original
investment proposals. A separate report providing an update on the Pavilion
Capital Expenditure has capital implications which will be incorporated in the
Capital Programme should the recommendations be accepted by Council.
6.4 Capital Resources
6.4.1 The Council’s projected available capital resources are determined at the
beginning of each financial year and a detailed breakdown of the resources
required to support the programme are shown at Appendix C. The funding
shown in Appendix C assumes that all schemes will be fully implemented.
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