Issue - items at meetings - Quarterly Capital Monitoring 2022/23 Quarter 1

Issue - meetings

Quarterly Capital Monitoring 2022/23 Quarter 1

Meeting: 14/09/2022 - Cabinet (Item 8)

8 Quarterly Capital Monitoring 2022/23 Quarter 1 pdf icon PDF 752 KB

A report from the Executive Director of Resources is attached. (Key decision – reference number 5494)

 

Minutes:

Councillor Tim Leaver (Cabinet Member for Finance and Procurement) introduced the report of the Executive Director Resources providing an update on the forecast capital spend for the year 2022/23 of the Council’s 10 Year Capital Programme 2022/23 to 2031/32, considering the latest information available to all capital schemes including funding. He stressed the importance of achieving value for money and appropriate prioritisation of projects so as to deliver on those that added the most value. Officers were thanked for their ongoing work.

 

DECISION:  The Cabinet agreed to note the 2022/23 forecast of £332m against a budget of £486m, equivalent to 68%. The largest element of this is related to Meridian Water. Excluding Meridian Water, it is forecast that 74% of the capital budget will be spent in 2022/23.

 

The report sets out the options considered, if any, and the reasons for the recommendation and the decision.

 

(Key decision – reference number 5494)