Issue - meetings
Financial Monitoring 2012/13 - Capital (Month 12)
Meeting: 18/04/2013 - Cabinet (Item 243)
243 Financial Monitoring 2012/13 - Capital (Month 11) PDF 325 KB
Minutes:
A report by the Interim Director of Finance informed Members of the current position in relation to the Council’s 2012/13 to 2014/15 Capital Programme and reflected the position as at 28 February 2013. It also took account of the 2013/16 Programme as approved by Cabinet on 18 February 2013 (Minute No. 204 refers), together with any subsequent growth or slippage items. The report, therefore, reflected:
- The re-profiled 2012/13 capital programme budget which incorporates previous decisions made by Cabinet to amend the programme.
- The expenditure to date, which continues to be less than it, should be.
- The request for a revision to the capital programme to reflect additional slippage of £3.152 million of schemes into the 2013/14 financial year.
- A reduction in the estimated funding required for the Think Big Investment Fund of £0.121 million.
- The projected outturn figures for 2012/13, which suggest an under spend of £0.690 million on the revised programme.
RESOLVED:
That the Cabinet:
(1) agrees the revised Capital Programme of £40.539 million;
(2) agrees additional slippage in the programme of £3.152 million from 2012/13 to 2013/14;
(3) agrees the increase in the programme for 2012/13 of £0.697 million;
(4) notes the reduction in funding of £0.121 million required for Think Big Investment Fund;
(5) notes the spend to date at Month 11 of £27.939 million, which represents 75% of the revised capital budget, with 92% of the financial year having elapsed; and
(6) notes the work of the Capital Steering Group to detail the schedule of sites to validate the estimate of capital receipts.