Issue - meetings
Capital Monitoring Statement
Meeting: 10/12/2013 - Executive (Item 118)
118 Capital Monitoring Statement to 30 September 2013 
PDF 90 KB
To consider the report of the Assistant Director Finance.
Scrutiny Committee – Resources considered the report at its meeting on 4 December 2013 and its comments will be reported.
Additional documents:
Decision:
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Agreed:
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That the Council notes and approves the current position in respect of the annual capital programme and the further funding requests. |
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Reason for Decision:
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As set out in the report with specific reference to Section 9.
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Minutes:
The report of the Assistant Director Finance on the financial position in respect of the Council’s revised annual capital programme, advising Members of the anticipated level of deferred expenditure into future years and seeking Members’ approval to amend the annual capital programme was submitted in order reflect the reported variations.
Members were advised that the revised capital programme for the current financial year was £17.687 million. During the first six months of the year, the Council had spent £6.044 million on the programme, which equated to 28.6% of the revised programme. This compared with £6.515 million (26.6%) being spent in the first six months of 2012/13. The report also contained further funding requests for lighting provision at the Flowerpot Skate Park, to progress an energy savings project and the introduction of an e-tendering system.
The Chair welcomed the lighting at the Skate Park and the LED lighting being installed across the Council which would result in significant efficiency savings.
A Member raised concerns regarding the anticipated borrowing over the next few years and the pressure the interest repayments could have on the revenue account.
The Chair commented that the proposed borrowings were small in comparison to the Council’s assets and there was a need for the Council to ‘invest to save’.
The Assistant Director Finance advised that the asset value base varied from scheme to scheme and, whilst some may add value, other schemes were written off.
Whilst the majority of Members supported the way forward proposed in respect of the annual capital programme, one Member had concerns regarding the amount of borrowing required to fund the programme.
Scrutiny Committee – Resources considered the report at the meeting on 4 December 2013 and the comments of the Members were noted.
RECOMMENDED that the Council notes and approves the current position in respect of the annual capital programme and the further funding requests set out in Section 9 of the report.
Meeting: 04/12/2013 - Scrutiny Committee - Resources (Item 47)
47 Capital Monitoring Statement PDF 90 KB
To consider the report of the Assistant Director Finance - report circulated
Additional documents:
Minutes:
The Assistant Director Finance reported on the current position in respect of the Council’s revised annual capital programme, the anticipated level of deferred expenditure into future years, and also sought Member approval to amend the annual capital programme in order to reflect the reported variations.
The report also contained further funding requests for additional lighting provision at the Flowerpot Skate Park, to progress an energy saving project and the introduction of an e-tendering system. The Deputy Chief Executive responded to a plea to ensure that the lighting at the Skate Park was sensitive to both light pollution and also the environment. Every effort had been made to mitigate such concerns to address the topography and minimise the impact on the wildlife. The energy savings project was an ambitious scheme across the Council’s estate, but already the pilot had made some significant savings. The Assistant Director Finance added that LED lighting had offered immediate savings in energy used, but further work was required to determine the solar panel payments. He also provided the detail of the new procurement section which is being set up to facilitate a corporate procurement process. Although tenders could be invited by email, the return tender had to be sent back in paper at some cost to the tenderer. E-tendering would enable tender documentation to be sent back securely and stored until the tender due date. It was hoped that the current, fragmented process would be more streamlined. The process would also support the Procurement Officer on spend across the Council and provide a more effective service.
A Member enquired about the kitchen replacement programme and sought clarification on the sum yet to be spent. The Assistant Director Finance stated that they were on track to spend £2.2 million, with an approximate figure of £5,000 set aside for each kitchen and the expected lifespan of the kitchen was at least ten years.
The Scrutiny Committee – Resources noted the current position in respect of the revised annual Capital Programme and the further funding requests set out in Section Nine of the circulated report and recommended its approval by Council.
(Report circulated)