Issue - meetings

To consider the report of the Chief Finance Officer.

The Executive Committee received the report on the 2019/20 General Fund Capital Monitoring Statement which reported 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 Member approval to amend the annual capital programme in order to reflect the reported variations.

Particular reference was made to the £19.138 million spent from the revised capital programme during the first six months of the year from the £61.767 million budget. This equated to 31% of the revised programme, which was a good improvement over the previous year’s expenditure. Members were referred to the newly refurbished play area at Pinhoe Station Road and the purchase of the long leasehold office building in Senate Court, which had been completed during the second quarter of 2019/20. The purchase of the office building would provide an expected net income of £591,000 per annum before costs were taken into account.

RECOMMENDED that Council approve the revision to the annual capital programme to reflect the reported variations detailed in 8.5 and Appendix 1 of the report presented to the meeting.