Issue - meetings

This report informs Members of the likely outturn position of 2012/12 Capital Programme based on the spend profile and information to June 2011 and seeks approval for any changes to the programme, and slippage, arising from over or underspends.

RECOMMENDED:  That Council approve:

(i)            The net adjustments of an increase of £5.436k in 2011/12 and a reduction of £3.849k in 2012/13, as detailed in the report and contained in Annex A.

(ii)          The increase of £38k in the Travellers’ electricity units scheme, funded by prudential borrowing and supported by existing revenue budgets (paragraph 15).

(iii)         The addition to the capital programme of the Howe Hill Hostel scheme at £50k, to be funded from RTB capital receipts not committed elsewhere in the housing capital programme (paragraph 16).

(iv)         The use of the £300k contingency fund to fund the following schemes, totalling £170k:

·         St Clements Hall - £30k (para 23)*

·         29 Castlegate - £35k (para 24)

·         Decent Homes standard - £69k (paras 25-27)

·         Fishergate Postern - £20k (paras 28-29)

·         Castle Mills Car Park - £16k (para 30)

REASON:      To enable the effective management and monitoring of the Council’s capital programme.

*Note: a separate vote was taken in respect of the funding to St Clements Hall, during which Cllr Merrett left the room, having declared a prejudicial interest (Minute 31 refers).

Members considered a report which informed them of the likely out-turn position of the Council’s 2011-12 Capital Programme, based upon the spend profile and information to June 2011, and sought approval for changes to the programme resulting from overspends, underspends or slippage.

The current approved capital programme for 2011-12 amounted to £66.099m, financed by £29.700m of external funding and £36.399m of internal funding.  The report detailed an increase of £5.436m to this programme, made up of:

·         Adjustments to schemes, increasing expenditure by £1.587m

·         Net re-profiling of £3.849m of schemes from future years to the current year.

Variances against each portfolio area were outlined in Table 2 in paragraph 5 of the report and detailed in paragraphs 8 to 30.  It was noted that capital spend up to the mid point in August had been £19.95%, representing 19.95% of the revised budget.

Requests for increases and additions to the programme, and for funding from contingency, were presented in paragraphs 15, 16 and 21-30.  It was noted that the contingency fund was already included in the capital programme and the revenue implications were supported in the treasury management budget.

Having noted:

·         The 2011/12 revised budget of £71.535m, as set out in the report at paragraph 4 and Table 2 and

·         The re-stated capital programme for 2010/11-2014/15 as set out in paragraph 26, Table 3, and detailed in Annex A,

it was

RECOMMENDED:  That Council approve:

(i)            The net adjustments of an increase of £5.436k in 2011/12 and a reduction of £3.849k in 2012/13, as detailed in the report and contained in Annex A.

(ii)          The increase of £38k in the Travellers’ electricity units scheme, funded by prudential borrowing and supported by existing revenue budgets (paragraph 15).

(iii)         The addition to the capital programme of the Howe Hill Hostel scheme at £50k, to be funded from RTB capital receipts not committed elsewhere in the housing capital programme (paragraph 16).

(iv)         The use of the £300k contingency fund to fund the following schemes, totalling £170k:

·         St Clements Hall - £30k (para 23)*

·         29 Castlegate - £35k (para 24)

·         Decent Homes standard - £69k (paras 25-27)

·         Fishergate Postern - £20k (paras 28-29)

·         Castle Mills Car Park - £16k (para 30)

REASON:      To enable the effective management and monitoring of the Council’s capital programme.

*Note: a separate vote was taken in respect of the funding to St Clements Hall, during which Cllr Merrett left the room, having declared a prejudicial interest (Minute 31 refers).