Issue - meetings

A report from the Executive Director of Finance, Resources and Customer Services is attached. This informs Members of the current position up to the end of December 2016. (Key decision – reference number 4364)

(Report No.197)

(8.45 – 8.50 pm)

Councillor Dino Lemonides (Cabinet Member for Finance and Efficiency) introduced the report of the Executive Director of Finance, Resources and Customer Services (No.197) informing Members of the current position up to the end of December 2016.

NOTED

1.               That the overall expenditure was projected to be £230.3m for the General Fund and £55.2m for the HRA for 2016/17.

2.               The additions and reductions to the Programme as detailed in Tables 3 and 4 of the report. Members noted that as part of the 2017/18 budgeting cycle, a review of the capital programme had been undertaken with each department, with the aim of reducing the revenue cost of borrowing to the Council’s general fund, as detailed in the report.

Alternative Options Considered: Not applicable to this report.

DECISION: The Cabinet

1.               Agreed the revised 2016/17 Capital Programme totalling £230.3m for the General Fund and £55.2m for the Housing Revenue Account (HRA).

2.               Noted the approved full four-year programme as per Appendix A of the report and Indicative Programme in Appendix B of the report.

3.               Noted the additions to the programme which were for information only and either required no additional borrowing as they were grant funded or had already been approved as part of the Council’s democratic process as detailed in Table 3 of the report.

Reason: To inform Members of the current position up to the end of December 2016 regarding the Council’s capital programme.

(Key decision – reference number 4364)