Issue - meetings

The Chief Finance Officer to present a report which sets out the outturn position of the council’s 2021-22 capital programme, including any under or over spends, and provides an update on the impact on future years of the programme.

Resolved:  (i)      That the 2021/22 capital outturn position of £78.220m be noted and that the requests for re-profiling from the 2021/22 programme to future years, totalling £49.153m, be approved.

                   (ii)      That the adjustments to schemes reducing expenditure in 2021/22 by a net £211k be noted.

                   (iii)     That the use of £4m contingency to fund the additional costs of the Guildhall refurbishment be approved.

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

[See also under Part B]

The Chief Finance Officer presented a report which set out the outturn position of the council’s 2021-22 capital programme, including any under or over spends, and provided an update on the impact on future years of the programme.

An outturn of £78.220m was reported on the approved 2021/22 budget of £127.584m; an overall variation of £49.364m.  This comprised requests to re-profile a net -£49.153m of schemes to future years and adjustments to schemes increasing expenditure by a net £211k.  The overall programme continued to operate within budget, due to careful management of expenditure.

Key areas of investment and outcomes were highlighted in paragraphs 2 and 3 of the report. Variances and re-profiling requests within each portfolio area were set out in Table 1 at paragraph 12 and detailed in the body of the report.  These included additional costs of £4m related to completion of the Guildhall project.  The report also highlighted the potential impact on major schemes and rolling programmes of increasing levels of inflation. The re-stated capital programme for 2022/23 to 2026/27 was shown in Table 3 at paragraph 97 and detailed in Annex A.

Resolved:  (i)      That the 2021/22 capital outturn position of £78.220m be noted and that the requests for re-profiling from the 2021/22 programme to future years, totalling £49.153m, be approved.

                   (ii)      That the adjustments to schemes reducing expenditure in 2021/22 by a net £211k be noted.

                   (iii)     That the use of £4m contingency to fund the additional costs of the Guildhall refurbishment be approved.

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