Issue - meetings

Capital Budget Monitoring 2019/2020 - Round 2

Meeting: 23/01/2020 - Council (Item 610)

610 Amendments to the Revenue Budget and Capital Programme PDF 132 KB

This report requests Full Council approval for a number of amendments to the Revenue Budget and Capital Programme.

Additional documents:

Addendum Report, item 610 PDF 223 KB

Minutes:

Discussion:

This report provided details of a number of amendments to the Revenue Budget and Capital Programme as recommended by Cabinet following the rounds 1 and 2 2019/20 capital budget monitoring reports. The report also included an addition to deliver secondary surge classes following a recommendation from Cabinet on 19 November 2019.

In addition, following confirmation from the government that the Council’s £170million Housing Infrastructure Fund (HIF) bid has been successful, the report stated that this scheme had been added to the Capital Programme under the Chief Finance Officer’s delegated authority. As such, the report also set out a recommendation to reduce the revenue budget by the £850,000 for advance works on the HIF programme, which would now be funded from the capital scheme.

The Leader of the Council, Councillor Jarrett, supported by the Deputy Leader and Portfolio Holder for Housing and Community Services, Councillor Doe, proposed the recommendation in the addendum report with the following addition:

“The Council is asked to add the schemes set out in sections 3 to 11 of the report to the Capital Programme, approve the virement as set out in section 12 of the report and to remove £850,000 from the Revenue Budget as set out in section 11.2 of the report.

Decision:

The Council agreed to add the schemes set out in sections 3 to 11 of the report to the Capital Programme, approve the virement as set out in section 12 of the report and to remove £850,000 from the Revenue Budget as set out in section 11.2 of the report.

Meeting: 19/11/2019 - Cabinet (Item 13)

13 Capital Budget Monitoring - Round 2 2019/20 PDF 778 KB

Additional documents:

Appendix 1, item 13 PDF 1 MB

Minutes:

Background

This report provided details of the second round of the Council’s capital budget monitoring for the financial year 2019/20. The approved capital programme for 2019/20 was £295.867 million. The report also provided details of a number of proposed additions to the capital programme, details of which were set out in section 3 of the report.

Decision number:	Decision:
	The Cabinet noted the results of the second round of capital budget monitoring for 2019/20.
140/2019	The Cabinet recommended to Full Council that the capital programme is increased by £102,259 in respect of the additional cost identified for Mercury Abatement as set out in paragraph 3.5 of the report, funded from borrowing.
141/2019	The Cabinet recommended to Full Council that the budget for Command of the Heights is increased by £397,259 reflecting additional resources as set out in paragraph 3.6 of the report.
142/2019	The Cabinet recommended to Full Council that the capital programme be increased by £22,942 in respect of the additional costs on Rochester Station Totem as set out in paragraph 3.8 of the report, to be funded from capital receipts.
143/2019	The Cabinet recommended to Full Council that the capital programme be increased by £4.1 million for the HRA new Build Phase lV as set out in paragraph 3.11 of the report, to be funded 70% from borrowing and 30% from ‘Right to Buy’ capital receipts in line with the existing scheme.
144/2019	The Cabinet recommended to Full Council that the capital programme be increased by £300,000 to create the HRA Buy Back scheme, to be funded from HRA Reserves and Right to Buy receipts, as set out in paragraph 3.12 of the report.
145/2019	The Cabinet agreed that £200,000 be vired from the Strood Town Centre SELEP funded scheme to the Medway City Estate Connectivity SELEP funded scheme, as set out in paragraph 3.13 of the report.
146/2019	The Cabinet recommended to Full Council that the Capital Programme be increased by £380,000 in respect of the ICT Data Centre works, to be funded from prudential borrowing as set out in paragraph 3.14 of the report.

Reasons:

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