Issue - meetings
Capital Programme Outturn 2011/12 and Revisions to the 2012/13 - 2016/17 Programme
Meeting: 17/07/2012 - Executive (Item 12)
Capital Programme Outturn 2011/12 and Revisions to the 2012/13 - 2016/17 Programme
Decision:
RECOMMENDED: i) That Council use £1.5m of Prudential Borrowing for the Primary School Strategic Programme in 2011/12 with the associated revenue implications to be met from the Children’s Services budgets and repaid over a period of 25 years from savings made as a result of the amalgamation of the schools.
ii) That Council approve the restated 2012/13 to 2016/17 programme as summarised in Table 3 and detailed in Annex 1 of the report, taking account of the re-profiling of schemes.
REASON: To allow the continued effective financial management of the capital programme from 2012/13 to 2016/17.
Minutes:
Consideration was given to a report which set out the Council’s capital outturn position for 2011/12 together with the final outturn position.
The current approved capital programme for 2011/12 of £57.031m, had been financed by £25.347m of external funding, and internal funding of £31,684m. Variations against the Monitor 3 budget of -£7.184m had resulted in a capital outturn of £49.847m arising from revisions to existing budgets, reprofiling and genuine under/overspends. Information on budget requests to be carried forward were set out in Table 2 in the report with supporting information at paragraphs 9 to 38.
An update on the 2012/13 to 2016/17 Capital Programme following the re-profiling of current schemes and requests for new funding was set out in paragraphs 39 to 44 and at Annex 1, of the report.
The Cabinet Member reported on the headline variations, confirming that all schemes were on track for completion this financial year.
RECOMMENDED: i) That Council use £1.5m of Prudential Borrowing for the Primary School Strategic Programme in 2011/12 with the associated revenue implications to be met from the Children’s Services budgets and repaid over a period of 25 years from savings made as a result of the amalgamation of the schools.
ii) That Council approve the restated 2012/13 to 2016/17 programme as summarised in Table 3 and detailed in Annex 1 of the report, taking account of the re-profiling of schemes. 1.
REASON: To allow the continued effective financial management of the capital programme from 2012/13 to 2016/17.