Issue - meetings

This report presents the likely out-turn position of 2010/11 Capital Programme, based on the spend profile and information to June 2010, and seeks approval for any changes to the programme.

[See also under Part B minutes]

RESOLVED: (i)         That the 2010/11 revised budget of £81.532m, as set out in paragraph 5 of the report (Table 2), be noted.

                        (ii)        That the re-stated capital programme for 2010/11 – 2014/15, as set out in paragraph 36 (Table 10) and detailed in Annex A, be noted.

                        (iii)       That approval be given to use contingency to fund the £15k for the Travellers – James Street Wall flood initiative and the £30k for Explore York Library Learning Centre.

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

[See also under Part B minutes]

Members considered a report which presented the likely out-turn position of the Council’s 2010/11 capital programme, based upon the spend profile and information up to June 2010.

An out-turn of £81.532m was predicted against the current approved budget of £81.979m; a net decrease of £447k resulting from adjustments to schemes in the programme, as outlined in paragraph 5 of the report.  Capital spend to date amounted to £12.334m, or 15% of the total approved budget.  Key exceptions and implications for the programme in each portfolio area were highlighted in paragraphs 9 to 40 of the report.  The revised overall programme resulting from these changes was summarised in paragraph 41.  It was noted that a temporary funding shortfall of £3.098m remained due to reduced asset valuations in the current economic climate; this continued to be managed by using discretionary prudential borrowing.

Approval was sought for:

·        the net adjustments to the programme set out in the report and detailed in Annex A

·        the use of contingency funding to cover an overspend on the Explore York Library Learning Centre and match fund the Travellers – James Street Wall flood initiative and

·        the addition to the 2010/11 programme of a £1m loan to Yorwaste.

Having noted the comments of the Labour Group Spokespersons on this item, it was

RESOLVED: (i)         That the 2010/11 revised budget of £81.532m, as set out in paragraph 5 of the report (Table 2), be noted.

                        (ii)        That the re-stated capital programme for 2010/11 – 2014/15, as set out in paragraph 36 (Table 10) and detailed in Annex A, be noted.

                        (iii)       That approval be given to use contingency to fund the £15k for the Travellers – James Street Wall flood initiative and the £30k for Explore York Library Learning Centre. ^1.

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