Issue - meetings

This report sets out details of the Council’s capital programme outturn position for 2011-12, information on changes required to the programme arising from any under and overspends and slippage and informs Cabinet of the funding position and update on the future years capital programme.

RESOLVED:          That Cabinet agrees to:

i)        Note the 2011/12 capital outturn position of £49.847m and approve the requests for slippage totalling £8.786m from the 2011/12 programme to future years capital programme.

ii)     Note the changes to future years capital programme and realignment of the Access York Phase 1 programme.

REASON:        To allow the continued effective financial management of the capital programme from 2012/13 to 2016/17.

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.

RESOLVED:          That Cabinet agrees to:

i)        Note the 2011/12 capital outturn position of £49.847m and approve the requests for slippage totalling £8.786m from the 2011/12 programme to future years capital programme.

ii)     Note the changes to future years capital programme and realignment of the Access York Phase 1 programme.

REASON:        To allow the continued effective financial management of the capital programme from 2012/13 to 2016/17.