Issue - meetings

This report sets out the final out-turn position of the Council’s Capital Programme for 2005/06 and seeks approval for the statutory declaration on the funding of the programme, slippage on the programme and the addition of new externally funded schemes to the Capital Programme for 2006/07 to 2008/09.

RESOLVED: (i)         That the 2005/06 out-turn be noted and that the requests for slippage to and from the 2006/07 Capital Programme be approved.

                        (ii)        That the variations to the 2006/07 Capital Programme, where they are outside current delegated limits, be approved.

REASON:      To achieve a balanced budget and enable the completion of funded schemes.

                        (iii)       That the statutory declaration of 2005/06 capital expenditure, as required by the Local Government Act part 1, be approved.

REASON:      In accordance with statutory requirements.

Members considered a report which set out the final out-turn position of the Council’s Capital Programme for 2005/06 and sought approval for the statutory declaration on the funding of the programme, slippage on the programme and the addition of new, externally funded, schemes to the 2006/07-2008/09 Capital Programme.

The capital out-turn for 2005/06 was £40.2m, an underspend of £3m against the final budget of £43.2m.  This revised final budget included the £4m capital contribution to the York Schools PFI project and £1m spent on the Easy@york project.  The underspend represented a variance of 6.9% on the total budget, slightly higher than last year’s variance of 5.6%.  Key variances for individual portfolio areas were highlighted in paragraphs 10 and 11 of the report and a more detailed summary was provided in Annex 2.  Approval was sought to slip a total of £3.081m into the 2006/07 financial year.  With regard to funding the programme, there was a shortfall of £8.352m, due to delays in receiving a number of key capital receipts.  It was proposed that this be covered by:

• Using £1.075m from the capital reserve
• Using £1.774m from earmarked capital receipts
• borrowing £1.471m of capital receipts from the Venture Fund, to be repaid from the delayed receipts when they were realised.

Members commented favourably on the improvements to housing, schools, transport systems and recycling provision achieved over the past year by the Council’s largest ever capital investment programme.

RESOLVED: (i)         That the 2005/06 out-turn be noted and that the requests for slippage to and from the 2006/07 Capital Programme be approved.

                        (ii)        That the variations to the 2006/07 Capital Programme, where they are outside current delegated limits, be approved.

REASON:      To achieve a balanced budget and enable the completion of funded schemes.

                        (iii)       That the statutory declaration of 2005/06 capital expenditure, as required by the Local Government Act part 1, be approved.

REASON:      In accordance with statutory requirements.