Issue - meetings

Capital Budget Monitoring

 

 

Meeting: 29/03/2011 - Cabinet (Item 9)

9 Capital Budget Monitoring 2010/2011 pdf icon PDF 530 KB

Minutes:

Background:

 

This report gave details of the capital monitoring position for the period to January 2011, with a forecast outturn for 2010/2011. It was noted that on 25 February 2010 the Council had approved a capital programme for 2010/2011 and future years of £116 million. Subsequent funding announcements had increased the capital programme to over £131 million.

 

The report commented on the delivery of the capital programme, which was now in excess of 200 individual schemes and updated Members on a number of issues. The current forecast showed that £81.9 million of the programme was forecast for spend during 2010/2011 and the report set out how this would be funded. The details of a number of schemes that had been added, or vired, to the capital programme under delegated authority was set out.

 

Following the adoption of the Capital Programme at Council on 24 February 2011, and in accordance with the Council’s Constitution, the Cabinet was requested to give formal approval for expenditure incurred against the 2011/2012 Capital Programme.

 

Decision number:

Decision:

 

The Cabinet noted:

a)     The spending and funding forecasts summarised at tables 1 and 3 in the report and;

b)     Additions to the Capital Programme and virements as detailed in paragraph 5.1 of the report together with a further £24,323,931 in respect of the Strood Academy funded by Partnership for Schools Grant referred to in Section 4.2 of the report for which the procurement was approved by Cabinet on 15 February 2011.

53/2011

The Cabinet agreed to formally authorise expenditure against the approved Capital Programme for 2011/2012 and future years.

 

Reasons:

 

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