Issue - meetings

General Fund Capital Monitoring

Meeting: 30/11/2021 - Executive (Item 119)

119 2021/22 General Fund Capital Monitoring Statement - Quarter 2 pdf icon PDF 440 KB

To consider the report of the Director Finance.

 

Additional documents:

Decision:

Agreed:

 

RECOMMENDED that Council approve:-

 

 

(1)   the revision of the annual Capital Programme to reflect the reported variations detailed in 8.1 and Appendix 1 of the report; and

(2)   the additional budget detailed in 8.6 of the report.

 

Reason for Decision: As set out in the report.

 

 

Minutes:

The Executive received the report on the current position of the Council’s revised annual Capital Monitoring programme and 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.

 

Particular reference was made to:-

 

·         the Council had spent £9.694 million of the £106.986 million revised capital programme during the first six months, which was lower than the previous year;

·         there were continued issues in the construction sector impacting on the supply of materials and labour, which was likely to continue impacting the programme for some time resulting in a deferral of schemes; and

·         an additional £6,391,470 funding from Central Government had been received for the brownfield land release projects and would be used for work at Bonhay Meadows, Exeter Canal Basin, Mary Arches Car Park, Belle Isle, Cathedral & Quay Car Park and Clifton Hill.

 

A Member commented on the solar panel installation work for the Riverside Leisure Centre roof, which further highlighted the Council’s commitment to achieving the Net Zero ambition.

 

RECOMMENDED that Council approve:-

 

(1)        the revision of the annual Capital Programme to reflect the reported variations detailed in 8.1 and Appendix 1 of the report; and

(2)        the additional budget detailed in 8.6 of the report.