Issue - meetings

A report from the Director of Finance, Resources and Customer Services is attached. This informs Members of the current position regarding the Council’s 2011 to 2015 capital programme. (Key decision – reference number 3319)

(Report No.76)

(8.30 – 8.35 pm)

Councillor Andrew Stafford (Cabinet Member for Finance and Property) introduced the report of the Director of Finance, Resources and Customer Services (No.76) informing Members of the current position regarding the Council’s 2011 to 2015 capital programme taking into account the latest re-profiling information for all capital schemes.

NOTED

1.                  The report provides information on the re-profiling of the 2011/15 capital programme.

2.                  The capital expenditure budget had been reduced by £4.6 million.  Total capital expenditure would now be £142 million including £42 million which had slipped from last year’s programme.  This will be spent this year. 

3.                  Additional capital items worth £10 million will be funded from earmarked resources. 

4.                  Because of prudent and sustainable management, the Council had sufficient room to meet current commitments.  However future capital will have to be borrowed. 

5.                  The MUGA and Youth Shelter at Meyer Green that have been deleted from the capital programme will be provided with money from elsewhere.

6.                  The table on the parks capital expenditure in Appendix B of the report page 65 of the agenda pack should have read as follows:-

Alternative Options Considered: None stated.

DECISION: The Cabinet agreed

1.         the re-profiled four year programme;

2.         the revised prudential indicators;

3.         that the reduction of the capital programme by £4.6m in 2011/12 following a review that identified specific projects as low priority or where funds were no longer required.

Reason: To monitor the current position of the Council’s capital programme.

(Key decision – reference number 3319)