Issue - meetings

Capital Budget Monitoring 2013/2014 - Quarter 1

Meeting: 06/08/2013 - Cabinet (Item 6)

6 Capital Budget Monitoring 2013/2014 PDF 167 KB

Minutes:

Background:

This report gave details of the capital monitoring position for the period to June 2013 (the end of the first quarter), with a forecast outturn for 2013/2014.

The approved capital programme for 2013/2014 and future years was £76.8 million, consisting of £41.6 million in respect of brought forward schemes and £35.2 million in respect of new approvals.

The report commented on the delivery of the capital programme and updated Members on a number of issues. The current forecast showed that £52.5 million of the programme was forecast for spend during 2013/2014.

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

Decision number:	Decision:
	The Cabinet noted the spending forecasts summarised at Table 1 in the report.
	The Cabinet noted the virements outlined at paragraph 4.2.5 of the report.
	The Cabinet noted the increase to the total Academies programme, reflecting the final ringfenced grant figure following changes to the assumptions in the gateway 3 reports.
	The Cabinet noted the additions to the capital programme made under delegated powers as outlined in paragraphs 4.2.3 and 4.3.3 of the report.

Reasons:

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