Issue - meetings

Financial Monitoring 2014/15 (Month 6) - Capital

Meeting: 09/12/2014 - Cabinet (Item 111)

111 Financial Monitoring 2014/15 (Month7) - Capital pdf icon PDF 124 KB

Minutes:

Councillor Phil Davies introduced a report of the Director of Resources, which set out the capital position at Month 7 (October 2014).  The Cabinet noted a number of variances which would impact on the forecast outturn (Table 2).  The report provided information which outlined the 2014/15 Capital Programme and the sources of funding. 

 

Appended to the report were the Revised Capital Programme and Funding and Capital Receipts.

 

Councillor Phil Davies informed that the Council was realising as many capital receipts as possible and paid tribute to Councillor Adrian Jones who was leading the work on this.

 

RESOLVED: That

 

(1)  the spend to date at Month 7 of £15.8 million, with 58% of the  financial year having elapsed be noted;

 

(2)  the inclusion of the LED Lighting Scheme as agreed by Council on 20 October 2014 be noted; 

(3)  the revised Capital Programme of £45.7 million be agreed and referred to the Council for approval;

 

(4)  the re-profiling in respect of the schemes referred to in Table 2, reference D (£1.211 million) be agreed and referred to the Council for approval; and

 

(5)  the inclusion in the Capital Programme of the Flood Risk Management (£87,000, 2014/15) and Parks Improvement Works (£35,000, 2014/15) schemes be agreed and referred to the Council for approval.


Meeting: 06/11/2014 - Cabinet (Item 80)

80 Financial Monitoring 2014/15 (Month 6) - Capital pdf icon PDF 149 KB

Minutes:

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.