Issue - meetings

Capital Budget Monitoring 2014/2015 - Period 2

 

 

Meeting: 22/01/2015 - Council (Item 692)

692 Additions to the Capital Programme pdf icon PDF 23 KB

This report seeks approval to add five schemes to the Capital Programme. 

Minutes:

Discussion:

 

This report provided details of a proposal to add five schemes to the Capital Programme, as recommended by the Cabinet on 13 January 2015.

 

The Deputy Leader and Portfolio Holder for Finance, Councillor Jarrett, supported by the Leader of the Council, Councillor Rodney Chambers OBE, proposed the recommendation in the report.

 

Decision:

 

The Council approved the following additions to the Capital Programme:

 

a)     Tractor and Ancillary Equipment (Greenspaces) - £42,830

b)     Flood Defences (Strood Riverside) - £4,000,000

c)      Parking System Scheme - £40,000

d)     Contraception and Sexual Health Scheme - £100,000

e)     Land at Horsted Valley - £50,000.

Meeting: 13/01/2015 - Cabinet (Item 14)

14 Capital Budget Monitoring 2014/2015 - Round 2 pdf icon PDF 124 KB

Minutes:

Background:

 

This report detailed the capital monitoring forecasts as at the end of November 2014.

 

The approved capital programme for 2014/15 and future years was £86.8million, representing both brought forward schemes and new approvals. The report consolidated the capital monitoring undertaken by each directorate and this was summarised in the appendix, which detailed the individual schemes and their financial position.

 

The report asked Cabinet to approve the virement of £1million from the Basic Needs Programme to fund the forecast overspend on the Academies Programme arising from the cost of removing unforeseen asbestos. Cabinet were also asked to commend five additions to the capital programme to Full Council.

 

During the discussion on this item, it was clarified that the proposed addition of £4,000,000 for Flood Defences along a new river wall at Strood Riverside, would be funded from a successful bid against PWLB project rate borrowing (a special discounted rate of 0.4% below standard PWLB rates) and repaid from a first call on the future capital receipts that the regeneration programme is expected to generate.

 

Decision number:

Decision:

 

The Cabinet noted the spending forecasts summarised at Table 1 of the report.

15/2015

The Cabinet agreed the £1.0million virement requested in paragraph 6.1 of the report.

16/2015

The Cabinet recommended the new approvals set out in paragraph 6.2 of the report to Council.

Reasons:

 

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