Issue - meetings

To consider the report of the Chief Finance Officer.

Corporate Services Scrutiny Committee considered the report at its meeting on 23 November 2017 and its comments will be reported.

The Chief Finance Officer presented the report on the current position in respect of the Council’s revised annual capital and advised Members of the anticipated level of deferred expenditure into future years. The report also sought Members approval to amend the annual capital programme in order to reflect the reported variations.

The Chief Finance Officer advised that during the first six months of the year the Council had spent £4.134 million on the programme, this was comparable to the first six months of 2016/17. He highlighted the achievements that had been completed during the second quarter of 2017/18.

The Portfolio Holder for City Transformation, Energy and Transport welcomed the work that had been undertaken to the Canal Pontoons and stated that feedback from users had been positive.

In response to a Member’s question, the Chief Finance Officer clarified that the transfer of the Estate Regeneration budget to South Street was in accordance with grant funding conditions. These funds were from the Department of Communities and Local Government (DCLG) and could be used across the four Housing Revenue Account sites provided the grant deliverables were met.

Corporate Services Scrutiny Committee considered the report at its meeting on 23 November 2017 and its comments were reported.

RECOMMENDED Council notes and approves the revision of the annual capital programme to reflect the reported variations detailed in 8.4 and 8.5 of the circulated report.

To consider the report of the Chief Finance Officer.

The Chief Finance Officer presented the report of the current position in respect of the Council’s revised annual capital and advised Members of the anticipated level of deferred expenditure into future years. The annual capital programme was updated every three months to reflect any cost variations, slippage or acceleration of projects to manage risks.

He advised that in the first six months of the financial year, the Council had spent £4.134 million on the programme compared to the £4.063 million spent in 2016/17. The current programme forecasted that £7.370 million of the programme could be deferred to 2018/19 or beyond. He discussed he schemes that had been completed in 2017/18, highlighting the following schemes - Newcourt Community Hall, Rougemont Gardens and the Canal Pontoons.

In response to Members’ questions, the Chief Finance Officer and City Surveyor responded that:-

·         By-elections were a rare occurrence which usually incurs an overspend. It was projected that there would be an overspend for the December by-election;

·         There was a bid in with the European Regional Development Fund for the innovative Smart Grid PV and Battery Storage Project, which represented 55% of the total cost of the scheme. The energy savings project report would be going to Executive in December; and

·         The bus station expenditure would be going to Council in January for discussion on the de-risking process.

Corporate Services Scrutiny Committee noted the report and requested Executive to support and Council approve the following:-

(1) The revision of the annual capital programme to reflect the reported expenditure variations and schemes to be deferred to 2018/19.