Issue - meetings

RECOMMENDED:        That Council agree to the restated 2013/14 to 2017/18 programme of £203.295m as summarised in Table 3 and detailed in Annex A of the report.

REASON:                     To allow the continued effective financial management of the capital programme from 2013/14 to 2017/18.

[See also Part A minute]

Consideration was given to a report which set out the capital programme outturn position, including any under or overspends details of the overall funding of the programme together with an update on the impact of this on future years.

An outturn of £46.476m was reported compared to the approved budget of £57.281m, financed by £21.227m of external funding and £36.054 of internal funding, a variation of £10.805m, of which £10.4457m had been reprofiled to future years. Details of the variances for individual departments along with requests for reprofiling were set out at Table 1 and paragraphs 8 to 31 of the report.

Information was provided on the Economic Infrastructure Fund with an overall value of £28.5 covering a 5 year period with schemes committed to a value of £17.663m, detailed at Annex B.

Updates on the 2013/14-2017/18 Capital Programme were reported at Table 2 and Annex A, with further details at paragraphs 39 to 43 and the projected Capital Programme financing for this period reported at Table 4. It was confirmed that close monitoring of the overall funding position was being undertaken by the Director of Customer and Business Support Services with any issues being reported back to Cabinet.

The Cabinet Member referred to the reprofiling of funds, part of which included delays in DfT approval for the Access York scheme. The West Offices development was however still expected to be under spent and on time a significant achievement.

Following further discussion it was

RECOMMENDED:        That Council agree to the restated 2013/14 to 2017/18 programme of £203.295m as summarised in Table 3 and detailed in Annex A of the report. ^1.

REASON:                     To allow the continued effective financial management of the capital programme from 2013/14 to 2017/18.