Issue - meetings

The Chief Finance Officer to present a report which sets out the projected out-turn position of the council’s capital programme for the 2021/22 financial year, along with requests to re-profile budgets to or from current and future years.

Resolved:  (i)      That the 2021/22 revised budget of £158.404m, as set out in Table 1 at paragraph 6 of the report, be noted.

                   (ii)      That the re-stated capital programme for 2021/22 to 2025/26, as set out in Table 2 at paragraph 49, be noted.

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

The Chief Finance Officer presented a report which set out the projected out-turn position of the council’s capital programme for the 2021/22 financial year, along with requests to re-profile budgets to or from current and future years.

A decrease of £62.138m was reported on the programme approved in February 2021, resulting in a revised programme for 2022/22 of £158.404m. Variances against each portfolio area were set out in Table 1 at paragraph 6 of the report and detailed in paragraphs 7-48. The revised 5-year programme was summarised in Table 2 at paragraph 49.  Officers reported that the slippage was due mainly to the re-profiling of major schemes, as was to be expected with such complex projects.

In commending the recommendations to Members, the Executive Member for Finance & Performance welcomed the progress on a number of schemes, including the Guildhall, the Community Stadium and the completion of Marjorie Waite Court.

Resolved:  (i)      That the 2021/22 revised budget of £158.404m, as set out in Table 1 at paragraph 6 of the report, be noted.

                   (ii)      That the re-stated capital programme for 2021/22 to 2025/26, as set out in Table 2 at paragraph 49, be noted.

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