FRM(21)28.03
Report on Community Infrastructure Levy (CIL) funded projects – July 2021
Background and summary
This report updates Finance Employment and Risk Management (FERM) Committee on the situation regarding CIL resources and projects as at 30 June 2021.
Report
The report covers:
- CIL resources currently available and sums so far earmarked for specific projects
- CIL received and spent to date
- Resources that the Council has previously agreed to retain in support of existing projects / revenue support
- Projects already committed / started / completed
- Upcoming refurbishment requirements for existing assets in Council ownership
- Other project proposals.
- Projects consulted on as part of the Neighbourhood Plan refresh in February 2020 with results
- Conclusions and recommendations.
- Resources available
As at 30 June 2021 the Council has an overall CIL reserves balance of £517,959 (rounded). Of this sum the following amounts are already earmarked for specific projects:
- Melton Road crossings project £40,000 [of which a balance of £35,755 remains. N.B. The overall cost could increase depending on the results of the current extended consultation exercises and the scope of the final project.]
- Winifred Fison House landscaping and parking improvements (provisional) £50,000
- Pavilion £220,000 [of which a balance of £218,117 remains.]
- Divested land sinking fund £30,000 [of which a balance of £25,590 remains].
- CIL received and spent to date
Receipts to date (payments are usually made in April and October in each year):
2016 £4,720
2017 £75,172
2018 £3,652
2019 £245,651
2020 £183,667
2021 £77,646
TOTAL = £590,508
Expenditure to date:
2018/19 £2,324
2019/20 £8,554
2020/21 £11,243
2021/22 (to 30/06/21) £50,428
TOTAL = £72,549
Thus as at 30 June 2021, the balance of CIL monies held as restricted reserves is £517,959. This agrees with the management accounts produced at that date. In terms of spend deadlines, the earliest unspent tranches are now a balance of £7,343 dating from October 2017, which needs to be spent by October 2022 and £3,652 dating from October 2018, which needs to be spent by October 2023. These balances are likely to be used up in the current financial year.
- Resources that the Council has previously agreed to retain as revenue support (as updated by resolution of Full Council on 13 January 2021 (Minute 21.08.04)
| Project | Estimated Budget | Comment / Justification |
| Sinking fund to support management / maintenance / improvements to the new land assets to be acquired from 1 April 2020/21
Now established |
£30k | Ensures improvements can be made quickly thus raising community confidence in the Council. If not required after 2/3 years due to increased precept income funds can be reapplied elsewhere. |
| General contingency | £70k |
