Issue - meetings

To consider the report of the Chief Finance Officer.

The Chief Finance Officer presented the report which advised Members of the current position in respect of the Council’s revised annual capital programme and the anticipated level of deferred expenditure into future years. The report also sought Member approval to amend the Annual Capital Programme. Capital expenditure was a significant source of risk and uncertainty, with cost variances, delays and changes to larger complex capital projects.

Members were informed of the changes made to the Capital Programme since the previous meeting, in June 2019, and the Chief Finance Officer commented on the available capital receipts for the General Fund for 2019/20 which as at 30 June 2019 stood at £5,431,708. He reported on those variances and issues concerning expenditure in respect of those schemes being deferred to 2020/21.

The Chief Finance Officer highlighted the completed schemes during the first quarter detailed in the report and advised that there was a request for an additional budget of £600,000 to be funded from the Transformation Fund to support the agile and flexible working project at the Civic Centre.

In response to questions from Members, the Chief Finance Officer explained:-

·         The budget and timetable implications to the City Point Development, following the recent unearthed Roman artefacts discovered on site were not currently known, but would be investigated and reported to Members;

·         The Riverside Insurance payment meant that the budget would be increased, to cover the figure detailed in the report and would require Council approval;

·         The available resources for Community Infrastructure Levy (CIL) funded projects would be identified as they moved forward, but the New Homes bonus resources available was now a small figure;

·         The cost for the planned works against the Pyramids, Leisure Centre Enhancements and Sport Facilities Refurbishment schemes was in addition to the original amount of £4.5 million and included in the underspend figures for the four schemes detailed in the report.

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

(1)  The revision of the annual capital programme to reflect the reported variations detailed in 9.1 and Appendix 1; and

(2)  The additional budget request detailed in 9.7.