Issue - meetings

This report informs Members of the likely outturn position of the 2012/13 Capital Programme based on the spend profile and information to August 2012. Details are also provided of any under or overspends, and approval is sought for changes to the programme, informing of any slippage and seeking approval for the associated funding to be slipped to or from the financial years to reflect this.

RESOLVED:                That Cabinet notes:    

i)             The 2012/13 revised budget of £65.153m as set out in paragraph 4 and Table 2 of the report.

ii)      The restated capital programme for 2012/13 – 2016/17 as set out in paragraph 28, Table 3 and detailed in Annex A of the report.

iii)          The Better Bus Area Fund external funding received from the Department of Transport at £0.670m in 2012/13 and £1.095m in 2013/14.

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

Members considered a report which informed them of the likely outturn position of the 2012/13 Capital Programme based on the spend profile and information to August 2012.

Changes made throughout the year had resulted in a current approved capital programme for 2012/13 of £67.067m, financed by £28.281m of external funding and internal funding of £38.786m. The key issues were a net decrease of £2.584m resulting from increased budget expenditure for new schemes of £0.832m and net re-profiling of £2.746m of schemes to future years.

The variances reported against each portfolio area were set out at Table 2 of the report, with a summary of key exceptions and implications on the capital programme at paragraphs 9 to 27. Tables 3 and 4 and Annex A to the report set out the revised 5 year capital programme and financing of the programme going forward.

The Chair thanked both members and officers for work on progressing the provision of community facilities at the Burnholme School site, confirming the authority’s commitment to the local community.

Following further discussion it was

RESOLVED:                That Cabinet notes:     

i)             The 2012/13 revised budget of £65.153m as set out in paragraph 4 and Table 2 of the report.

ii)      The restated capital programme for 2012/13 – 2016/17 as set out in paragraph 28, Table 3 and detailed in Annex A of the report.

iii)          The Better Bus Area Fund external funding received from the Department of Transport at £0.670m in 2012/13 and £1.095m in 2013/14.

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