Issue - meetings

This report informs Members of the likely outturn position of 2011/12 Capital Programme, based on the spend profile and information to September 2011, and seeks approval for any necessary slippage of funding resulting from changes to the programme.

[See also under Part B Minutes]

RESOLVED: (i)         That the addition of £1.550m capital expenditure, approved by the Staffing Matters & Urgency Committee on 30 August 2011 for the strategic purchase of land at Holgate Park to assist with bringing forward development of York Central and to be funded from borrowing, be noted.

                        (ii)        That the revised 2011/12 budget of £72.122m, as set out in paragraph 5 of the report and Table 2, be noted.

                        (iii)       That the re-stated capital programme for 2010/11-2014/15, as set out in paragraph 66, Table 3, and detailed in Annex A, be noted.

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 informed them of the likely out-turn position of the Council’s 2011/12 Capital Programme, based upon the spend profile and information to September 2011, and sought approval for slippage resulting from changes to the programme.

The report detailed changes that would result in a revised programme of £72.122m – a net increase of £0.587m on the current approved programme of £71.535m, made up of:

·        Adjustments to schemes increasing expenditure by £1.708m

·        Net re-profiling of -£1.121m of schemes from future years to the current year.

There had been £23.94m capital spend up to the end of September, representing 33.3%% of the revised budget.

Budget variances in each portfolio area were summarised in Table 2 at paragraph 5 of the report and detailed in paragraphs 8-16.  They included the re-profiling and adjustment of budgets in relation to Highway Resurfacing & Reconstruction (£150k), York Pools Strategy (£200k), the Local Transport Plan programme (£158k), the Administrative Accommodation project (£930k) and the IT Development Plan (£41k).  The addition of a further £1.550m to the programme for the purchase of land to bring forward developments at York Central had already been approved by the Staffing Matters & Urgency Committee.

RESOLVED: (i)         That the addition of £1.550m capital expenditure, approved by the Staffing Matters & Urgency Committee on 30 August 2011 for the strategic purchase of land at Holgate Park to assist with bringing forward development of York Central and to be funded from borrowing, be noted.

                        (ii)        That the revised 2011/12 budget of £72.122m, as set out in paragraph 5 of the report and Table 2, be noted.

                        (iii)       That the re-stated capital programme for 2010/11-2014/15, as set out in paragraph 66, Table 3, and detailed in Annex A, be noted.

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