Issue - meetings

To consider the report of the Director Finance.

Agreed:

RECOMMENDED that Council approves:-

(1) the overall financial position for the 2023/24 annual capital programme; and

(2) the amendments and further funding requests to the Council’s annual capital programme for 2023/24.

Reason for Decision: As set out in the report.

The Executive received the report on the current position of the Council’s revised annual capital programme and to advise 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 variations outlined in the report.

Members were advised that there had been ongoing difficulty with the Capital Programmes, particularly with issues relating to contractors to complete work and remain within budget. Tenders had also been coming in higher than budgeted for, which was an issue was relating to the current construction market and had a significant impact on the Capital Programme, pushing a number schemes forward into the next financial year.

Councillor Jobson, as an opposition group leader, spoke on this item and enquired about the splash pools schemes being listed as a single project and whether the budget line for the Heavitree paddling pools also included the St. Thomas splash pool?

Councillor D. Moore, as an opposition group leader, spoke on this item and welcomed the completed work for the Guildhall roof replacement. She enquired about the completion of work for the roof section which was still leaking and whether the Council now had the funding for the work for Trews Weir taking place in 2025/26.

Councillor M. Mitchell, as an opposition group leader, spoke on this item and requested clarification on the loan to Exeter City Living of £14,141,500 which was listed as being unlikely to be utilised. He enquired if that was money that’s already been earmarked for use elsewhere or whether it was a loan that had not been taken up?

In response to questions and points from Members, the Director Finance advised

·         that he would consult with the property team for an update on the Guildhall and whether any further work was planned;

·         that depending on Council approval, the £14,141,500 would be taken out of the Capital Programme and would not be a loan. There were no resources backing the amount as the loan had not been taken out; and

·         theHeavitree and St. Thomas splash pools had been merged, however the Heavitree project was a larger project which required a significant level of work, in addition to the patching undertaken to allow it to open this year.

RECOMMENDED that Council approves:-

(1)  the overall financial position for the 2023/24 annual capital programme; and

(2)  the amendments and further funding requests to the Council’s annual capital programme for 2023/24.