Issue - meetings

To consider the report of the Assistant Director Finance.

Scrutiny Committee – Resources considered the report at its meeting on 19 November 2014 and its comments will be reported.

The report of the Assistant Director Finance was submitted to update Members on the current position in respect of the Council’s revised annual capital programme and the anticipated level of deferred expenditure into future years.

The Assistant Director Finance advised Members that the grants of £3 million to the Environment Agency for the flood defence works and £615,000 to Strata had now been paid, and £500,000 of the £1 million loan will be paid to the Science Park in January 2015. These payments would show an improved position with regards to the performance of the capital programme.

Members were advised of an additional funding request of £50,000 to invest in the Municipal Bond Agency created by the Local Government Association, which would allow the Council to become a shareholder.  A letter of intent had been sent by the 4 December.   There had also been an additional funding request for £37,500 for new lighting at Exton Road, as part of a health and safety recommendation to bring the lighting to an acceptable standard to enable staff to work safely in the proximity of refuse collection vehicles at all hours.

A Member raised concerns regarding the impact of the borrowing on the revenue account, the offset of the expenditure on the Athletics Track against a saving in sports facility refurbishment and the underspend on energy saving projects.

The Assistant Director Finance clarified that as not all of the sports facility refurbishment budget was required,  it had been used to offset the additional expenditure on the replacement of the Athletics Track at Exeter Arena. The underspend of £425,000 in respect of energy saving projects was being carried forward to the next financial year and work was on going to deliver energy saving schemes.

The Portfolio Holder for Enabling Service commented that the Council had recently received an award for all the work it was undertaking on Energy Saving Projects.

The Portfolio Holder for Economy and Culture clarified that Parkwood Leisure did invest in maintenance, improvement of leisure facilities and equipment as part of their contract.

Scrutiny Committee – Resources considered the report at its meeting on 19 November 2014 and the support and comments of the Members were noted.

RECOMMENDED that the Council notes and approves:-

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

(2)           the additional funding request set out in section 8.8.

(In accordance with Standing Order no.43, Councillor Fullam requested that his voting against this recommendation be recorded)

To consider the report of the Assistant Director Finance.

The Assistant Director Finance presented a report which updated the current position in respect of the Council’s revised annual capital programme and advised Members of the anticipated level of deferred expenditure into future years. The report also sought approval to amend the annual capital programme in order to reflect the reported variations with some projects taking longer than the current year to complete.  A request for additional funding of £50,000 was made to invest in the Municipal Bond Agency created by the Local Government Association, which would allow the Council to become a shareholder.  A letter of intent was required by the 4 December.   There had also been an additional funding request for £37,500 for new lighting at Exton Road, as part of a health and safety recommendation to bring the lighting to an acceptable standard to enable staff to work safely in the proximity of refuse collections vehicles at all hours.

Scrutiny Committee - Resources noted the current position in respect of the annual Capital Programme, and the additional funding request set out in section 8.8 of the circulated report and recommended its approval by Council.