A report from the Director of Finance, Resources and Customer Services is attached. This informs Members of the current position up to the end of September regarding the Council’s Capital Programme (2013-17). (Key decision – reference number 3759)
(8.25 – 8.30 pm)
Councillor Andrew Stafford (Cabinet Member for Finance and Property) introduced the report of the Director of Finance, Resources and Customer Services (No.113) informing Members of the current position up to the end of September regarding the Council’s Capital Programme (2013-17) taking into account the latest information for all capital schemes including the funding arrangements.
1. That the report showed that the overall expenditure was projected to be £81.2m for the General fund and £60.3m for the Housing Revenue Account for 2013/14. The overall capital programme over the next 4 years was projected to be approximately £500m as detailed in Appendix A of the report.
2. That there had been a number of changes to the 2013/14 capital budget which were summarised in section 4 of the report. Members noted the innovative schemes included within the programme.
3. In response to a query raised by Councillor Taylor with reference to Table 1 of the report – Environment – 13/14 Town Park (reinstate the boating lake) it was noted that a water feature was being created rather than a boating lake. The wording of this item would be amended in future reports to avoid confusion.
Alternative Options Considered: Not applicable to this report.
DECISION: The Cabinet agreed
1. The updated four year programme including proposed reductions subject to indicative estimates included in 2015/17 (as detailed in Section 4 of the report).
2. The additions to the General Fund Capital Programme totalling £2.079m in 2013/14 (Table 1 – to be funded from grants and earmarked resources) and noted that this would not increase capital financing costs.
Reason: To inform Members of the current position regarding the Council’s Capital Programme (2013-17)
(Key decision – reference number 3759)
Post meeting note: Following clarification, the total figure to agree for additions to the General Fund Capital Programme in 2013/14 should read £2.079m in 2013/14, as detailed in Table 1 of the report and reflected in decision 2 above. The figure stated in recommendation 2 of the report of £3.691m was incorrect.