Decision details

Second Quarter Capital Budget Monitoring

Decision Maker: Cabinet

Decision status: Decision made

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To report on the latest monitoring position.  

Decisions:

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.

 

Decision number:

Decision:

 

The Cabinet noted the spending forecasts summarised at Tables 1 of the report and noted a reduction to the capital programme and budget virements as detailed in paragraph 5.1 of the report.

150/2011

The Cabinet requested that Council in due course consider the additional funding requirement from the Stoke Crossing overspend in conjunction with those previously requested by Cabinet in respect of other Homes and Communities Agency (HCA) supported schemes.

 

Reasons:

 

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

Report author: Phil Watts

Publication date: 02/11/2011

Date of decision: 01/11/2011

Decided at meeting: 01/11/2011 - Cabinet

Effective from: 10/11/2011

Accompanying Documents: