Issue - meetings

Capital Budget Monitoring - Round 3 2019/20

 

 

Meeting: 04/02/2020 - Cabinet (Item 5)

5 Capital Budget Monitoring - Round 3 2019/20 pdf icon PDF 775 KB

Additional documents:

Minutes:

Background:

 

The Cabinet accepted the report as urgent to enable consideration of the matter at the earliest opportunity.  The next scheduled Cabinet meeting was due to take place on 3 March 2020 and that would not have given sufficient time for any remaining issues to be addressed.

 

This report presented the capital monitoring information for the third quarter of the financial year, including outturn forecasts. The approved capital programme for 2019/20, and future years, was £295.867m.

 

The report provided details of new schemes and virements, as set out in section 3 of the report.

 

Decision

number:

 

Decision:

 

The Cabinet noted the results of the third round of capital budget monitoring for 2019/20.

 

13/2020

The Cabinet recommended to Full Council that the forecast underspend on the purchase of the Pentagon Shopping Centre is vired to a new capital scheme for future capital works at the Pentagon.

 

14/2020

The Cabinet recommended to Full Council that funding from capital receipts be added to the Capital Programme to fund the pressure on the Medway Tunnel.

 

15/2020

The Cabinet recommended to Full Council that Section 106 funding identified be added to the Capital Programme to fund the overspend on Play Scheme Refurbishment.

 

 

Reasons:

 

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