Issue - meetings

This report sets out the Council’s capital programme out-turn position for 2010/11, along with the final outturn position, approval for changes to the programme resulting from under or overspends and slippage, and provides an update on the future years’ programme.

[See also under Part A minutes]

RECOMMENDED:(i) That Council approve the re-stated 2011/12 to 2015/16 capital programme, as summarised in Table 4 at paragraph 37 of the report and detailed in Annex 1.

(ii)That Council approve the use of additional resources in the form of prudential borrowing at a value of £65k, to fund the overspend on Clements Hall.

REASON:      To allow the continued effective financial management of the capital programme from 2011/12 to 2015/16.

[See also under Part A minutes]

Members considered a report which outlined the Council’s capital programme out-turn position for 2010/11 and sought approval for changes to the programme and slippage resulting from under or overspends.

The current approved programme amounted to £64.926m, financed by £35.020m external and £29.906m internal funding.  Capital expenditure in 2010/11 totalled £53.932m, representing a decrease of £5.458m on the previous year’s expenditure and an underspend of £10.995m against the budget.  There were requests for budgets totalling £9.721m to be carried forward (re-profiled) into future years.  Details of these requests and of programme variances within individual departments were set out in paragraphs 8 to 34 of the report.  They included an overspend on building works at Clements Hall, detailed in paragraphs 25 to 29, for which additional resources of £65k, in the form of prudential borrowing, were sought.

The re-stated capital programme for 2011/12-2015/16, split by portfolio, was illustrated in table 4, at paragraph 37 of the report, with individual scheme level profiles in Annex 1. 

RECOMMENDED:(i) That Council approve the re-stated 2011/12 to 2015/16 capital programme, as summarised in Table 4 at paragraph 37 of the report and detailed in Annex 1.

(ii)That Council approve the use of additional resources in the form of prudential borrowing at a value of £65k, to fund the overspend on Clements Hall.

REASON:      To allow the continued effective financial management of the capital programme from 2011/12 to 2015/16.