MPC(21)98.07
Report on Community Infrastructure Levy (CIL) funded projects – September 2021
Background and summary
This report updates Full Council on the situation regarding CIL resources and projects as at 31 August 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
- Current position
- Projects already committed / started / completed September 2021
- Upcoming refurbishment requirements
- Other potential requirements
- Conclusions and recommendations.
- Resources available
As at 31 August 2021 the Council has an overall CIL reserves balance of £515,495 (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.]
- Winifred Fison House landscaping and parking improvements (provisional) £50,000
- Pavilion £220,000 [of which a balance of £217,652 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 31/08/21) £52,892
TOTAL = £75,013
Thus as at 31 August 2021, the balance of CIL monies held as restricted reserves is £515,495. This agrees with the management accounts produced at that date. In terms of spend deadlines, the earliest unspent tranches are now a balance of £4,879 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.
Balance remaining at 31 August 2021 £25,590 |
| General contingency reserve | £70k |
