Issue - meetings

REPORT OF THE SERVICE DIRECTOR - RESOURCES

To update Cabinet on progress with delivering the capital programme for 2018/19, as at the end of December 2018, and indicating its impact upon the approved capital programme for 2019/20 - 2023/24.

RESOLVED:

(1)       That the forecast expenditure of £6.736million in 2018/19 on the capital programme, paragraph 8.2 refers, and approves the adjustments detailed in table 3 which result in a net decrease on the working estimate of £0.022million be noted:

(2)       That the adjustments to the capital programme for 2018/19 onwards as a result of the revised timetable of schemes detailed in table 2, increasing the estimated spend in future years 2019/20 by £0.466million be approved;

(3)       That the position of the availability of capital resources, as detailed in table 4, and the requirement to keep the capital programme under review for affordability be noted.

REASON FOR DECISION:

(1)       Cabinet is required to approve revisions to the capital programme.

(2)       Cabinet is required to ensure that the capital programme is fully funded.

Audio Recording – Start of Item – Session 2 – 1 hour 27 minutes 40 seconds

The Executive Member for Finance and IT presented the report entitled Third Quarter Capital Monitoring 2018/19 together with the following appendices:

·                 Appendix A - Capital Programme Summary 2018/19 onwards;

·                 Appendix B - Capital Programme Detail including Funding 2018/19 onwards

Cabinet considered the referral from the Finance, Audit and Risk Committee meeting held on 26 March 2019 which:

RECOMMENDED TO CABINET:

(1)        That Cabinet notes the forecast expenditure of £6.736million in 2018/19 on the capital programme, paragraph 8.2 refers, and approves the adjustments detailed in table 3 which result in a net decrease on the working estimate of £0.022million;

(2)        That Cabinet approves the adjustments to the capital programme for 2018/19 onwards as a result of the revised timetable of schemes detailed in table 2, increasing the estimated spend in future years 2019/20 by £0.466million;

(3)        That Cabinet notes the position of the availability of capital resources, as detailed in table 4, and the requirement to keep the capital programme under review for affordability.

RESOLVED:

(1)       That the forecast expenditure of £6.736million in 2018/19 on the capital programme, paragraph 8.2 refers, and approves the adjustments detailed in table 3 which result in a net decrease on the working estimate of £0.022million be noted:

(2)       That the adjustments to the capital programme for 2018/19 onwards as a result of the revised timetable of schemes detailed in table 2, increasing the estimated spend in future years 2019/20 by £0.466million be approved;

(3)       That the position of the availability of capital resources, as detailed in table 4, and the requirement to keep the capital programme under review for affordability be noted.

REASON FOR DECISION:

(1)       Cabinet is required to approve revisions to the capital programme.

(2)       Cabinet is required to ensure that the capital programme is fully funded.