Issue - meetings

The Chief Finance Officer to present a report which sets out the capital programme outturn position for 2022-23, including any under or over spends, and provides an update on the impact on future years of the programme.

Resolved:  (i)      That the 2022/23 capital out-turn position of £79.321m be noted.

                  (ii)     That the requests for re-profiling from the 2022/23 programme to future years, totalling £49.179m, be approved.

                  (iii)     That the adjustments to schemes, increasing expenditure in 2022/23 by a net £1.107m, be noted.

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 capital programme outturn position for 2022-23, including any under or over spends, and provided an update on the impact on future years of the programme.

An outturn of £79321m was reported on the approved 2022/23 budget of £127.393m; an overall reduction of £48.072m.  This comprised requests to re-profile a net -£49.179m of schemes to future years and adjustments to schemes increasing expenditure by a net £1.107m, mainly due to receipt of additional grant funding.  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 10 and detailed in the body of the report.  The re-stated capital programme for 2023/24 to 2027/28 was shown in Table 3 at paragraph 96 and detailed in Annex A; the projected call on council resources was illustrated in Table 4 at paragraph 97.

The Executive Member for Finance, Performance, Major Projects & Equalities noted that the information in the report related to the previous administration and that much work would be needed to ensure a deliverable programme in the current circumstances.

Resolved:  (i)      That the 2022/23 capital out-turn position of £79.321m be noted.

                  (ii)     That the requests for re-profiling from the 2022/23 programme to future years, totalling £49.179m, be approved.

                  (iii)     That the adjustments to schemes, increasing expenditure in 2022/23 by a net £1.107m, be noted.

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