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2010/11 Capital Programme Monitor 3

Meeting: 15/02/2011 - Executive - for meetings from 03/06/00 to 26/04/11 (Item 159)

159 Capital Programme - Monitor 3 pdf icon PDF 170 KB

This report presents the likely outturn position of the Council’s 2010/11 Capital Programme, based on the spend profile and information to mid January 2011, and seeks approval for changes to the programme resulting from slippage and for the use of additional prudential borrowing and contingency to progress certain schemes.

Additional documents:

Decision:

[See also under Part B Minutes]

 

RESOLVED: (i)         That the 2010/11 revised budget of £64.802m, as set out in paragraph 6 and Table 2, be noted.

 

                        (ii)        That the re-stated capital programme for 2010/11-2014/15, as set out in paragraph 14 and Table 13, and detailed in Annex A, be noted.

 

                        (iii)       That the use of an additional £124k of Prudential Borrowing for the funding of Self Issue Library machines which will generate future savings, as detailed in paragraph 24, be approved.

 

                        (iv)       That the underspend of £28k on the special bridge maintenance scheme, which has been transferred to a winter resilience approved in accordance with financial regulations by the Director of Customer & Business Support Services, as detailed in paragraph 30, be noted.

 

                        (v)        That the use of capital contingency to the value of £40k, to enable work on the James Street Travellers’ Site Flood Defence to progress, be approved.

 

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

Minutes:

[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 mid January 2011, and sought approval for changes to the programme and for the use of additional prudential borrowing and contingency to progress certain schemes.

 

The current approved programme, taking into account amendments reported in Monitors 1 and 2, amounted to £73.306m, financed by £37.818m of external funding and £35.488m of internal funding.  Against this an out-turn of £64.926m was predicted, representing a net decrease of £8.38m made up of:

  • Adjustments to schemes, increasing expenditure by £523k
  • The re-profiling of £7.857m of schemes into future years.

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

 

Key outcomes of the programme, and progress to date on major schemes, were detailed in paragraph 8 of the report.  Key exceptions and implications on the programme were summarised in paragraphs 9 to 46, with a summary of the revised 5 year programme in Table 13, at paragraph 47.  Approval was sought to use prudential borrowing to fund the introduction of self-issue machines in local libraries and to use contingency to progress flood defence work at the James Street Travellers Site.

 

RESOLVED: (i)         That the 2010/11 revised budget of £64.802m, as set out in paragraph 6 and Table 2, be noted.

 

                        (ii)        That the re-stated capital programme for 2010/11-2014/15, as set out in paragraph 14 and Table 13, and detailed in Annex A, be noted.

 

                        (iii)       That the use of an additional £124k of Prudential Borrowing for the funding of Self Issue Library machines which will generate future savings, as detailed in paragraph 24, be approved.1

 

                        (iv)       That the underspend of £28k on the special bridge maintenance scheme, which has been transferred to a winter resilience approved in accordance with financial regulations by the Director of Customer & Business Support Services, as detailed in paragraph 30, be noted.

 

                        (v)        That the use of capital contingency to the value of £40k, to enable work on the James Street Travellers’ Site Flood Defence to progress, be approved.2

 

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


 

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