Issue - meetings

Capital Monitoring 2018/19 and Budget Monitoring 2018/19

Meeting: 10/07/2018 - Executive (Item 69)

69 Capital Monitoring 2017/18 and Revised Capital Programme for 2018/19 and Future Years pdf icon PDF 158 KB

To consider the report of the Chief Finance Officer.

 

Corporate Services Scrutiny Committee considered the report at its meeting on 28 June 2018 and its comments will be reported.

 

Additional documents:

Decision:

Agreed

that it is recommended that Council approve;-

 

(1)         overall financial position for the 2017/18 Annual Capital Programme; and

 

(2)        amendments and further funding request to the Council’s annual capital programme for 2018/19.

 

 

Reason for Decision:

 

As set out in the report.

 

Minutes:

The Chief Finance Officer presented the report advising Members of the overall financial performance of the Council for the 2017/18 financial year in respect of the annual capital programme and sought approval of the 2018/19 revised capital programme, including commitments carried forward from 2017/18.

 

Members were advised that the expenditure in 2017/18 amounted to £10,331,102 which represented 79.6% of the revised Capital Programme. There was a further funding request for an additional budget of £40,000 for the replacement of lifts at Mary Arches Street Car Park. This was due to an increase in costs following advice from a specialist consultant that a more robust solution was needed.

 

Corporate Services Scrutiny Committee considered the report at its meeting on 28 June 2018 and its comments were reported.

 

RECOMMENDED that Council approves the:-

 

(1)        overall financial position for the 2017/18 Annual Capital Programme; and

 

(2)        amendments and further funding request to the Council’s annual capital programme for 2018/19.

 


Meeting: 28/06/2018 - Corporate Services Scrutiny Committee (Item 21)

21 Capital Monitoring 2018/19 pdf icon PDF 158 KB

To consider the report of the Chief Finance Officer.

 

Additional documents:

Minutes:

The Chief Finance Officer presented the report which advised Members of the Council’s overall financial performance of the Council’s capital programme for the 2017/18 financial year, and sought approval for the 2018/19 revised capital programme, including commitments carried forward from 2017/18. He explained that all local authorities were required to estimate the total of capital expenditure that it planned to incur during the financial year and which showed that asset management and capital investment strategies were affordable and sustainable. Capital expenditure was a significant source of risk and uncertainty since cost variations, delays and changing specifications were connected to large and complex capital projects. The revised Capital Programme of £12,986,130 and expenditure in 2017/18 amounted to £10,331,102, and represented 79.6% of the revised Capital Programme. A sum of £2.323 million had been identified and would need to be carried forward to be spent in future years. A further funding request for an additional £40,000 was made as part of a replacement lift programme of works at Mary Arches Street Car Park. Advice from a specialist consultant was that a more robust solution was needed.

 

The report also set out the expenditure variances and schemes to be deferred to 2018/19 and beyond.

 

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

 

(1)       overall financial position for the 2017/18 annual capital programme; and

(2)       amendments and further funding request to the Council’s annual capital programme for 2018/19.