A report from the Executive Director – Resources is attached. (Key decision – reference number 5149)
Councillor Mary Maguire (Cabinet Member for Finance and Procurement) introduced the report of the Executive Director – Resources detailing the outturn position of the Council’s 2019/20 Capital Programme.
1. That there were some minor changes to the paragraph numbers referred to in paragraphs 7, 8 and 9 of the report which were reflected in the decisions listed below.
2. That this was the fourth and final report of 2019/20, following similar monitoring reports as at Period 3 (Quarter 1), Period 6 (Quarter 2) and Period 8.
3. That at Period 8 (November), the forecast outturn position for 2019/20 across the General Fund and HRA was £215.4m. The actual outturn was £186.3m which represented 86% spend, compared to Period 8 forecast.
4. The report set out the total reprofiling of £19.3m on General Fund programmes and £10.0m on HRA programmes.
5. That 2020/21 was the first year of the Council changing to a 10 year capital programme which aligned with the 10 year Treasury management strategy.
6. That tables 1 and 2 of the report set out a summary outturn by Directorate and the capital outturn summary.
7. The general fund project outcomes as detailed in the report were highlighted which set out the significant investment in the Borough.
8. That table 3 of the report set out the variance analysis and Table 4 the Housing Revenue Account Capital Outturn. The main elements of the report were highlighted for Members and, it was noted that the Treasury Management Outturn report (detailed in Minute No.7 below) included further information on the external borrowing used by the Council to finance a portion of the capital programme.
9. The projects included in the report to support the Council’s actions to take climate change including the planting of 400 trees with more planned, flood alleviation works, the introduction of LED lighting on-street, and low traffic neighbourhood initiatives.
10. Members welcomed the investment in supporting its most vulnerable residents and helping them experience a better quality of life at home.
11. The investment in education and creation of additional special education needs (SEN) places were highlighted, as set out in the report.
12. Members were also pleased to note the investment and significant progress in relation to Meridian Water as detailed in the report.
Alternative Options Considered: NOTED, that there were no alternative options relevant to this report.
DECISION: The Cabinet agreed to note
1. The total expenditure on the Capital Programme for 2019/20 was £186.3m, against the Period 8 forecast of £215.4m, as detailed from paragraph 13 of the report.
2. The total reprofiling of £19.3m on General Fund programmes and £10.0m on HRA programmes.
3. Project outcomes for the General Fund programmes from paragraph 24 of the report.
4. Variance analysis for the General Fund programmes from paragraph 91 of the report.
5. HRA Capital Outturn from paragraph 114 of the report.
6. Funding of the Council’s capital expenditure for 2019/20 from paragraph 168 of the report.
Reason: To update Cabinet on the year end Capital Programme position, including project outputs.
(Key decision – reference number 5149)