Issue - meetings

To consider the report of the Head of Treasury Services.

Scrutiny Committee – Resources considered the report at its meeting on 23 November 2011 and comments will be reported.

(Report circulated)

(Minute 109)

The report of the Head of Treasury Services was submitted, setting out the current position in respect of the Council’s annual capital programme and advising Members of the anticipated variations. The Prudential Code for Capital Finance in Local Authorities required the monitoring of performance against the prudential indicator for capital expenditure and the highlighting of significant deviations from expectations.   

The Head of Treasury Services reported that the capital programme for the current financial year is £23,167,730 and that it was projected that £7.3 million of the programme would need to be carried forward into future years.  He identified the main variances and achievements in the programme. 

Scrutiny Committee – Resources considered the report at their meeting of 23 November 2011 and their comments were noted.

Executive recommended that Council:-

(1)        notes the current position in respect of the annual capital programme; and

(2)        approves the amendments to the Council’s annual capital programme outlined in Appendix 2 of the report.

The report of the Head of Treasury Services was submitted, setting out the current position in respect of the Council’s annual capital programme and advising Members of the anticipated variations. The Prudential Code for Capital Finance in Local Authorities required the monitoring of performance against the prudential indicator for capital expenditure and the highlighting of significant deviations from expectations.   

The Head of Treasury Services reported that the capital programme for the current financial year is £23,167,730 and that it was projected that £7.3 million of the programme would need to be carried forward into future years.  He identified the main variances and achievements in the programme. 

Scrutiny Committee – Resources considered the report at their meeting of 23 November 2011 and their comments were noted.

RECOMMENDED that Council:-

(1)        notes the current position in respect of the annual capital programme; and

(2)        approves the amendments to the Council’s annual capital programme outlined in Appendix 2 of the report.

(Report circulated)

To consider the report of the Head of Treasury Services – report circulated

The Head of Treasury Services presented the report setting out the current position in respect of the Council’s revised annual Capital Programme.

Members were advised that the capital programme for the current financial year was £23,167,730 and it was projected that £7.3 million of the programme would need to be carried forward into future years. During the first six months of the current financial year the Council spent £5,515,868 of the 2011/12 Capital Programme. This equated to 23.8% of the revised Capital Programme being spent in the first six months of 2011/12, compared to £6.964 million (22.8%) being spent in the first six months of 2010/11.

In response to a Member’s question, the Chief Executive advised the once the John Lewis store opened it was anticipated that the use of the King William Street car park would significantly increase, providing additional income for the Council.

The Scrutiny Committee – Resources noted the current position in respect of the revised annual Capital Programme and recommended approval by Council of the revised annual Capital Programme.

(Report circulated)