Agenda item

REPORT OF THE SERVICE DIRECTOR - RESOURCES

To consider the Capital Programme Outturn 2017/18.

RESOLVED:

(1)     That expenditure of £9.484million in 2017/18 on the Capital Programme (Paragraph 8.2 refers), and in particular the changes detailed in Table 3 which resulted in a net increase on the working estimate of £0.011million, be noted;

(2)     That the adjustments to the Capital Programme for 2018/19 and onwards as a result of the revised timetable of schemes detailed in Table 2, increasing the estimated spend in 2018/19 by £1.506million (re-profiled from 2017/18), be approved;

(3)     That the position of the availability of Capital resources, as detailed in Table 4, Paragraph 8.6, and the requirement to keep the Capital Programme under review for affordability, be noted;

(4)     That the application of £1.437million of Capital receipts towards the 2017/18 Capital Programme, and the drawdown of £6.390million from set aside receipts, as referred to in Paragraph 8.6 of the report, be approved; and

(5)     That, in view of the fact that Capital funds are likely to be depleted within the next few years, it be ensured that regular scrutiny of the Capital Programme is carried out by the Cabinet.

REASON FOR DECISION: To approve revisions to the Capital Programme; and to ensure that the Capital Programme is fully funded.

The Executive Member for Finance and IT presented a report of the Service Director - Resources in respect of the Capital Programme Outturn 2017/18.  The following appendices were submitted with the report:

Appendix A – Capital Programme Summary 2017/18 onwards; and

Appendix B – Capital Programme Detail including Funding 2017/18 onwards.

The Vice-Chairman of the Finance, Audit and Risk Committee presented the following referral from that Committee, made at its meeting held on 18 June 2018, in respect of Capital Programme Outturn 2017/18 (Minute 14 refers):

“RECOMMENDED TO CABINET:  That, in view of the fact that Capital funds are likely to be depleted within the next few years, it be ensured that regular scrutiny of the Capital Programme is carried out by the Cabinet.”

The Executive Member for Finance and IT was fully supportive of the recommendation of the Finance, Audit and Risk Committee.

In relation to some of the issues raised by Mr Dartington earlier in the meeting, the Executive Member for Finance and IT advised that the Capital Budget was approved by the Full Council in February each year.  Apart from very minor changes to the budget, all major variations were required to be approved by the Full Council.  As an example, were it to be the intention to progress a scheme for the regeneration of Churchgate, then the decision to add the cost of that scheme to the Capital Programme would be determined by the Full Council.  He commented that the current Capital Programme amounted to expenditure of £20million across the District over the next year.

The Executive Member for Finance and IT explained that the Capital Programme contained projects which the Council had previously considered would be necessary, although there was always a possibility that the Programme would change, particularly if Council priorities changed.  Therefore, if Mr Dartington’s proposals were considered worthy of progression, they would need to be costed, and a business case prepared, and then added to the Capital Programme for approval by the Full Council.

In respect of the report, the Executive Member for Finance and IT referred to Table 2, which outlined the significant re-profiling of capital projects.  He assured the Cabinet that each project was frequently reviewed and challenged as part of the process.

RESOLVED:

(1)       That expenditure of £9.484million in 2017/18 on the Capital Programme (Paragraph 8.2 refers), and in particular the changes detailed in Table 3 which resulted in a net increase on the working estimate of £0.011million, be noted;

(2)       That the adjustments to the Capital Programme for 2018/19 and onwards as a result of the revised timetable of schemes detailed in Table 2, increasing the estimated spend in 2018/19 by £1.506million (re-profiled from 2017/18), be approved;

(3)       That the position of the availability of Capital resources, as detailed in Table 4, Paragraph 8.6, and the requirement to keep the Capital Programme under review for affordability, be noted;

(4)       That the application of £1.437million of Capital receipts towards the 2017/18 Capital Programme, and the drawdown of £6.390million from set aside receipts, as referred to in Paragraph 8.6 of the report, be approved; and

(5)       That, in view of the fact that Capital funds are likely to be depleted within the next few years, it be ensured that regular scrutiny of the Capital Programme is carried out by the Cabinet.

REASON FOR DECISION: To approve revisions to the Capital Programme; and to ensure that the Capital Programme is fully funded.