Issue - meetings

Capital Budget Monitoring

 

 

Meeting: 07/08/2012 - Cabinet (Item 6)

6 Capital Budget Monitoring 2012/2013 pdf icon PDF 154 KB

Minutes:

Background:

 

This report gave details of the capital monitoring position for the period to June 2012 (the end of the first quarter), with a forecast outturn for 2012/2013.

 

The approved capital programme for 2012/2013 and future years was £104.6 million, consisting of £82.9 million in respect of brought forward schemes and £21.7 million in respect of new approvals.

 

The report commented on the delivery of the capital programme and updated Members on a number of issues. The current forecast showed that £75.8 million of the programme was forecast for spend during 2012/2013.

 

The Cabinet accepted this report as urgent to enable it to receive and consider the first quarter budget monitoring information at the earliest opportunity.

 

Decision number:

 

Decision:

 

The Cabinet noted:

a)     The spending forecasts summarised at Tables 1 of the report

b)     The budget virements as detailed in paragraphs 4.2.2 and 4.3.2 of the report.

108/2012

The Cabinet approved the virement of £458,000 of Basic Needs Grant from the SEN Strategy budget to fund a specialist hearing impairment unit on the Twydall Primary School site.

 

Reasons:

 

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