Decision details

To report on the latest monitoring position.  

Background:

This report presented the capital monitoring forecast for the period to September 2011 (the end of the second quarter), with an outturn forecast for 2011/12 and future years.

It was noted that the approved capital programme for 2011/12 and future years was £109.1m, being £53.4m in respect of brought forward schemes and £55.7m in respect of new approvals. The report commented on the delivery of the capital programme and updated Members on a number of issues, including a potential major cost variance in respect of the Stoke Crossing. The current forecast showed that £82.199m of the programme was forecast for spend during 2011/2012. Details of a reduction and virements made to the capital programme under delegated authority were also set out.

During the discussion of this item it was agreed that the request for Council to consider the Stoke Crossing budget should take place in due course, when there was clarity of the figures concerned.

The Cabinet accepted this report as urgent to enable Cabinet to receive and consider the second quarter budget monitoring information at the earliest opportunity.

Reasons:

Cabinet has the responsibility to ensure effective budgetary control to contain expenditure within the approved limits set by Council.