Issue - meetings

This report inform Members of the likely outturn position of 2012/13 Capital Programme based on the spend profile and information to January 2013; informs of any under or overspends; seeks approval for changes to the programme andinforms of any slippage and seeks approval for the associated funding to be slipped to or from the relevant financial years to reflect this.

RESOLVED:       That Cabinet agree to:

·       Note the 2012/13 revised budget of £57.281m as set out in paragraph 6 and Table 2.

·       Note the restated capital programme for 2012/13 – 2016/17 as set out in paragraph 43, Table 4 and detailed in Annex A.

·       Note the re-profiling and adjustments of the Economic Infrastructure fund to align to spend and approval as set out in the Economic Infrastructure reports to Cabinet noting the overall fund remaining at £28.5m and Annex B showing current EIF position.

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

[See also Part B minute]

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 January 2013, including under and over spends, programme changes together with any slippage.

The current approved Capital Programme for 2012/13 was £69.033m, financed by £27.438m of external funding, and internal funding of £41.595m.  A decrease of £11.752m, details of which were set out in the report, and had resulted in a revised Capital Programme  budget of £57.281 made up of under spends and net re-profiling to future years. The variances against each portfolio area, together with a summary of the key exceptions and implications on the capital programme, was set out at paragraphs 6 to 38 and at Annex A of the report. A summary of the revised 5 year Capital Programme incorporating the proposed changes highlighted in the report was shown at Table 4 together with the proposed financing at Table 5. The schemes which made up the under spend of £1.126m reported  in 2012/13 were set out at paragraph 47.

The overall spend and the commitment profile on the Economic Infrastructure Fund over the existing 5 year programme was reported at paragraphs 41 and 42 and at Annex B of the report.

RESOLVED:       That Cabinet agree to:

·       Note the 2012/13 revised budget of £57.281m as set out in paragraph 6 and Table 2.

·       Note the restated capital programme for 2012/13 – 2016/17 as set out in paragraph 43, Table 4 and detailed in Annex A.

·       Note the re-profiling and adjustments of the Economic Infrastructure fund to align to spend and approval as set out in the Economic Infrastructure reports to Cabinet noting the overall fund remaining at £28.5m and Annex B showing current EIF position. ^1.

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