Decision details
Financial Monitoring 2014/15 (Month 6) - Capital
Is Key decision?: Yes
Is subject to call in?: Yes
Decisions:
Councillor Phil Davies introduced a report by the Director of Resources which set out the capital position for 2014 to Month 6 (September 2014) and the Cabinet noted that a number of variances had, been identified which would impact on the outturn (Table 2). The report provided information which outlined the 2014/15 Capital Programme and the sources of financing.
The Cabinet noted, in particular, that the re-profiling of the Capital Programme following a half year review, plus previously agreed changes had reduced the borrowing requirement for 2014/15 by £8.8 million. The slippage would result in a one-off financing saving in 2014/15 of £800,000. Consequently, Councillor Phil Davies thanked everyone who had been involved with this. The full budget would be required in 2015/16 when the re-profiled expenditure occurred.
Appended to the report were the Revised Capital Programme and Funding and Capital Receipts.
RESOLVED: That
(1) the spend to date at Month 6 of £12.7 million, with 50% of the financial year having elapsed be noted; and
(2) the revised Capital Programme of £46.7 million be agreed.
Publication date: 13/11/2014
Date of decision: 06/11/2014
Decided at meeting: 06/11/2014 - Cabinet
Effective from: 21/11/2014
Accompanying Documents: