Issue - meetings

A report from the Director of Finance, Resources and Customer Services is attached. This informs Members of the capital investment undertaken in 2013/14, and the way in which it has been funded. (Key decision – reference number 3947)

(Report No.17)

(8.35 – 8.40 pm)

Councillor Andrew Stafford (Cabinet Member for Finance) introduced the report of the Director of Finance, Resources and Customer Services (No.17) informing Members of the capital investment undertaken in 2013/14, and the way in which it had been funded. The report also included the outturn position for the Prudential Indicators.

NOTED

1.               That in 2013/14 the Council’s capital expenditure had amounted to £108.3m compared with the latest programme of £121.2m. The resulting favourable variance of £12.9m comprised £4.6m housing projects and £8.3m of General Fund projects. This was mainly due to re-profiling of schemes where the resources would be carried forward to 2014/15.

2.               The principal achievements which had resulted from capital investment in 2013/14 as detailed in the report. A number of significant projects were highlighted to Members.

3.               The financial overview and information regarding the prudential indicators as set out in sections 5 and 6 of the report.

Alternative Options Considered: None stated.

DECISION: The Cabinet

1.               Noted the achievements and improved outcomes resulting from the Council’s investments in capital projects.

2.               Agreed the funding of the Council’s capital expenditure as set out in the report.

3.               Noted the outturn for the Council’s prudential indicators.

Reason: To inform Members of the final position on capital expenditure and financing for the year.

(Key decision – reference number 3947)