Issue - meetings

To consider the report of the Head of Treasury Services.

Scrutiny Committee – Resources considered the report at their meeting on 17 June 2009 and their comments will be reported.

(Report circulated)

The report of the Head of Treasury Services was submitted, informing Members of the overall financial performance of the Council for the 2008-09 financial year, in respect of the annual capital programme.  It also sought approval of the 2009-10 revised capital programme, including commitments carried forward from 2008-09.

Scrutiny Committee – Resources considered the report at their meeting on 17 June 2009 and the support and comments of the members were noted.

In response to a question regarding the underspend on Social Housing Grants, the Head of Treasury Services advised that there has historically been some slippage on the budget since the Council was dependent on social housing partners being able to  identify and develop suitable sites. The underspend also reflected the downturn in house building. 

Executive recommended that:-

(1)        the overall financial position for the 2008-09 annual capital programme be noted; and

(2)        the amendments to the Council’s annual capital programme for 2009-10 be approved.

The report of the Head of Treasury Services was submitted, informing Members of the overall financial performance of the Council for the 2008-09 financial year, in respect of the annual capital programme.  It also sought approval of the 2009-10 revised capital programme, including commitments carried forward from 2008-09.

Scrutiny Committee – Resources considered the report at their meeting on 17 June 2009 and the support and comments of the members were noted.

In response to a question regarding the underspend on Social Housing Grants, the Head of Treasury Services advised that there has historically been some slippage on the budget since the Council was dependent on social housing partners being able to  identify and develop suitable sites. The underspend also reflected the downturn in house building. 

RECOMMENDED that:-

(1)        the overall financial position for the 2008-09 annual capital programme be noted; and

(2)        the amendments to the Council’s annual capital programme for 2009-10 be approved.

(Report circulated)

To consider the report of the Head of Treasury Services – report circulated

The Head of Treasury Services presented a report which advised Members of the overall financial performance of the Council for the 2008/09 financial year, in respect of the annual capital programme and sought approval of the 2009/10 revised capital programme, including commitments carried forward from 2008/09.

The capital expenditure in the year amounted to £16,593,668, a reduction of £4,492,982 on the planned figure of £21,086,650. The planned figure took into account an adjustment for the temporarily suspended capital schemes. The actual expenditure during 2008/09 represented 78.7% of the total approved for the revised Capital Programme, which meant that £4.46 million would need to be carried forward to be spent in future years, as detailed in an appendix to the report. Two capital projects where spend has been significantly less than anticipated, were the RAMM Redevelopment (£840,570) and Social Housing Grants (£1,249,920) and these accounted for almost  half of the spending shortfall. In comparison with the previous financial year, spending performance had decreased.  During 2007/08 capital expenditure was equivalent to 88.5% of the planned figure of £22,036,840. 

The Scrutiny Committee - Resources noted the overall financial position for the 2008/09 annual capital programme and recommended that the Executive approve the amendments to the Council’s annual capital programme for 2009/10.

(Report circulated)