Issue - meetings

This report sets out the key deliverables of the capital programme and projected outturn position for 2014/15 including any under/ over spends and adjustments, along with requests to re-profile budgets to/from current and future years.

Resolved:  That Cabinet agree to:

(i)           Note the 2014/15 revised budget of £66.205 as set out in paragraph 6 and Table 1.

(ii)          Note the restated capital programme for 2014/15 – 2018/19 as set out in paragraph 46, Table 2 and detailed in Annex A.

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 2014/15 Capital Programme based on the spend profile and information to January 2015, including under and over spends, programme changes together with any slippage.

The current approved Capital Programme for 2014/15 was £72.555m, financed by £32.063m of external funding, and internal funding of £40.492m.  A decrease of £6.350m, details of which were set out in the report, and had resulted in a revised Capital Programme  budget of £66.205m 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, were set out at paragraphs 8 to 45 and at Annex A of the report. A summary of the revised 5 year Capital Programme incorporating the proposed changes highlighted in the report were shown at Table 2 together with the proposed financing at Table 3.

The overall spend and the commitment profile on the Economic Infrastructure Fund over the existing 5 year programme was reported at paragraph 16 and at Annex B of the report.

Resolved:  That Cabinet agree to:

(i)           Note the 2014/15 revised budget of £66.205 as set out in paragraph 6 and Table 1.

(ii)          Note the restated capital programme for 2014/15 – 2018/19 as set out in paragraph 46, Table 2 and detailed in Annex A.

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