Decision details

Members considered a report which informed them of the likely out-turn position of the 2006/07 Capital Programme, based on the spend profile and information to the end of September 2006.

Updates on, and variations to, the schemes in the programme were outlined in paragraphs 5 to 24 of the report.  Those variations had produced a gross capital programme for 2006/07 of £12.879m, of which £11.792m was funded externally, resulting in a net cost to the City of £1.087m.

In regard to the York High School Scheme, Members noted the increased costs and the need to identify further capital funding to meet the revised figures.  It was recognised that the prudential borrowing mechanism was the only way forward.

Members noted that there was no slippage in the capital programme and thanked Officers for their work in achieving that, and in producing the report.

Advice of the Advisory Panel:

That the Executive Member be advised:

(i)           To note the capital programme forecast out-turn for 2006/07, as shown in Annex A to the report.

(ii)         To approve the additions and amendments to the programme, as summarised in Annex A.

(iii)       To approve the use of prudential borrowing to increase the available funding for the York High School scheme, subject to the approval of the Schools forum and the Executive.

(iv)        Agree the revised capital programme as shown in Annex A, subject to the approval of the Executive.

Decision of the Executive Member:

RESOLVED:    That the advice of the Advisory Panel be accepted and endorsed.

REASON:         In order to allow the effective monitoring of the capital programme.