Issue - meetings

Third Quarter Capital Budget Monitoring

 

 

Meeting: 14/02/2012 - Cabinet (Item 14)

14 Third Quarter Capital Monitoring pdf icon PDF 177 KB

Minutes:

Background:

 

This report presented the capital monitoring forecast for the period to December 2011 (the end of the third quarter), with an outturn forecast for 2011/12 and future years.

 

It was noted that the approved capital programme for 2011/12 and future years was £154.5m, being £53.1m in respect of brought forward schemes and £55.7m in respect of new approvals. The report commented on the delivery of the capital programme and updated Members on a number of issues, including a number of virements and proposed additions to the Capital Programme.

 

The Cabinet accepted this report as urgent to enable Cabinet to receive and consider the third 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 made to the capital programme under director delegations, as described at paragraph 4.2.2 in the report.

45/2012

The Cabinet recommended to Council the following additions to the capital programme:

·        £65,000 for café improvements at the All Saints’ Children’s Centre to be funded from a revenue contribution;

·        £1,141,467 for the Twydall Primary School project, to be funded from the Primary Capital Programme, following Gateway 3 approval in December 2011;

·        £246,000 additional Local Transport Plan grant allocation;

·        £20,000 additional funding for the English Heritage Local Management Agreement;

·        £143,000 of additional S106 contributions to fund various schemes.

46/2012

The Cabinet recommended to Council the removal of £3,440,000 of underspent and uncommitted budget against the Adult Social Care Programme, Primary Capital Programme, SEN Programme, Condition Programme and Woodlands Primary School scheme, allowing the Council to reduce its borrowing requirements in 2012-13.

 

Reasons:

 

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