Issue - meetings

This report contains the likely outturn position of the Council’s Capital Programme 2011/12 and proposes amendments to existing schemes.

[See also under Part B Minutes]

RESOLVED:      i)           That  the 2011/12 revised budget of £57.031m as set out in paragraph 5 and Table 2, be noted.

                                      ii)            That the restated capital programme for 2011/12 – 2015/16 as set out in paragraph 34, Table 3 and detailed in Annex A, be noted.

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

[See also under Part B Minutes]

Consideration was given to a report which presented the likely outturn position of the Council’s 2011/12 Capital Programme, based on the spend profile and information up to December 2011, and sought approval of changes to the programme.

The current approved programme, taking into account amendments reported in Monitors 1 and 2, amounted to £72.122m, financed from £30.493m of external funding and £41.629m of  internal funding. Monitor 3 showed a net decrease of £15.091m made up of:

·        Adjustments to schemes decreasing budgeted expenditure by £0.959m

·        Net re-profiling of -£14.132m of schemes from future years to the current year.

Variances reported against each portfolio area were set out in Table 2 at paragraph 6 of the report.

A summary of the key exceptions and implications on the programme were summarised in paragraphs 8 to 32, with a summary of the 5 year revised programme in Table 3, at paragraph 34. The affects of the Housing Revenue Account reform and the increase on the debt portfolio were reported at paragraph 33

RESOLVED:      i)           That  the 2011/12 revised budget of £57.031m as set out in paragraph 5 and Table 2, be noted.

                                      ii)            That the restated capital programme for 2011/12 – 2015/16 as set out in paragraph 34, Table 3 and detailed in Annex A, be noted.

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