Decision details

CAPITAL MONITORING REPORT 2012/13 - Period 3 (June 2012)

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes


Councillor Chris Meaden declared a disclosable non – pecuniary interest in this item of business by virtue of her being a school governor.


A report by the Interim Director of Finance informed the Cabinet of the current position regarding the Council’s 2012-13 to 2014-15 capital monitoring programme, taking into account the latest monitoring information on the progress of the schemes, any budget increases/decreases and the reprofiling of budgets during 2012-13 and future years.  The report reflected:


·  The re-profiled 2012-13 capital programme budget;

·  The expenditure to date, which was less than it should be;

·  The projected outturn figures for 2012-13, which suggested a slippage of £10m; and

·  The current funding of the programme and its future affordability which, in the light of the Revenue monitor, required review.


Councillor Phil Davies referred to the Council’s high level of unsupported borrowing and agreed that it was imperative that capital schemes spend across the Council were reviewed on a monthly basis.




(1)  the Period 3 net decrease of £381k,  to the latest 2012-13 Capital Programme,  to produce a revised Capital Programme of £75.586m be agreed;


(2)  the pause for two months in the start to new unsupported capital schemes be agreed;


(3)  the re-profiled capital budgets of £28.273m for 2013-14 and £12.424m for 2014-15 be approved;


(4)  the spend to date of £5.72m,  which represents 7.6% of the revised capital budget, with 25% of the financial year having elapsed be noted;


(5)  the implementation of Capital Programme Group be noted;


(6)  the £48.8m of new unsupported borrowing included over the next three years, which will result in approximately a £3.5m additional revenue costs be noted; and


(7)  the work to detail the schedule of sites to validate the estimate of capital receipts be noted.

Publication date: 12/09/2012

Date of decision: 06/09/2012

Decided at meeting: 06/09/2012 - Cabinet

Effective from: 20/09/2012

Accompanying Documents: