Agenda item

2022/23 Capital Budget Monitoring Report for the Period Ending 30th September 2022 and Revised Estimates for 2022/23

Decision:

 

RESOLVED:

That District Executive agreed to:-

 

a.

note the expenditure on the capital programme as at the end of quarter two given in Table One.

 

b.

note the amount remaining the Corporate Capital Contingency Budget, given in Table Four.

 

c.

recommend to Full Council the Revised Estimates for the 2022/23 capital budget of £28.801m which incorporates:

 

 

·     The slippage in the Capital Programme given in Table Two.

 

 

·     The addition of five S106 funded projects totalling £0.095m as set out in paragraphs 48.

 

 

·     A decrease to the Disabled Facilities Grants budget of £0.136m as explained in paragraph 41.

 

 

·     The proposed pausing and removal of budgets for uncommitted projects listed in Appendix B totalling £1.840m.

 

 

·     The removal of remaining unspent budget amounts for completed projects totalling £0.050m listed in Appendix B.

 

 

·     The establishment of an earmarked reserve, of £0.413m, to be funded by usable capital receipts already received to fund the capital required for building a car park at Millers Garage if the approach agreed by District Executive at its meeting in October 2022 does not materialise.

 

 

·     The inclusion of a new budget programme to be called “Capital works budget for investment property”. This will replace the separate budgets identified in the capital programme for individual commercial properties and does not require any new budget additions - just an amalgamation of current approved budgets into one programme line within slippage being taken into account in the overall reprofiling proposals. 

 

 

·     Approves the splitting out and the renaming of the historic budget for the ‘Westlands building improvements’ budget of £0.552m with £0.452m moving to the ‘Westlands Events Hall Boiler Replacement and Improvements’ and £0.100m moving to the ‘Westlands Sports Hall Roof Repairs’.

 

 

·     Approves the virement of £0.424m from Decarbonisation of Operational Buildings - Phase 2 to Westlands Events Hall Boiler Replacement and Improvements Budget.

 

 

·     Approves the refinancing of the 2022/23 revised capital programme as set out in Table Nine.

Reason:

To provide District Executive with the current spending against the Council’s approved Capital Budget and the forecast position at year end (“outturn”), to explain estimated variations against budget, and to propose Revised Estimates to Full Council for the remainder of this financial year.

 

Minutes:

The Portfolio Holder for Finance and Legal Services advised that the report involved some budget re-profiling and adjustments to the delivery of some capital projects.  It also included some new Section 106 funded projects to be added, some projects which were substantially complete to be removed and some projects were to be cancelled.  He noted that to protect finances of the new Somerset Council, some revenue expenditure in the capital programme would be removed.  He proposed that the recommendations be agreed for proposal to Full Council

 

In response to questions from the Scrutiny Committee, the Portfolio Holder for Finance and Legal Services, the Chairman and the Director for Service Delivery advised:-

 

·         The five additional projects identified to be funded by Section 106 contributions were listed in table 8 of the report.

·         A written answer would be provided on the sites which the Section 106 funding was sourced from.

·         Reprofiling involved moving the time at which money was spent.  This was due to pressure on staff who were involved in the LGR programme and projects falling behind schedule.

·         Section 106 funding was for capital projects only.

·         Boden Mill site in Chard - building 11 was within the curtilage of a listed building.

·         A final report of the grants received towards decarbonisation of council buildings would be circulated to Members when completed.

·         The review of the capital programmes across the County would be reported to the SCC Full Council meeting in January 2023.

 

At the conclusion of the debate, the Chairman proposed a named vote be taken and it was unanimously agreed to propose the report to Full Council.

 

RESOLVED:

That District Executive agreed to:-

 

a.

note the expenditure on the capital programme as at the end of quarter two given in Table One.

 

 

b.

note the amount remaining the Corporate Capital Contingency Budget, given in Table Four.

 

 

c.

recommend to Full Council the Revised Estimates for the 2022/23 capital budget of £28.801m which incorporates:

 

 

 

 

 

·      The slippage in the Capital Programme given in Table Two.

 

 

·      The addition of five S106 funded projects totalling £0.095m as set out in paragraphs 48.

 

 

·      A decrease to the Disabled Facilities Grants budget of £0.136m as explained in paragraph 41.

 

 

·      The proposed pausing and removal of budgets for uncommitted projects listed in Appendix B totalling £1.840m.

 

 

·      The removal of remaining unspent budget amounts for completed projects totalling £0.050m listed in Appendix B.

 

 

·      The establishment of an earmarked reserve, of £0.413m, to be funded by usable capital receipts already received to fund the capital required for building a car park at Millers Garage if the approach agreed by District Executive at its meeting in October 2022 does not materialise.

 

 

·      The inclusion of a new budget programme to be called “Capital works budget for investment property”. This will replace the separate budgets identified in the capital programme for individual commercial properties and does not require any new budget additions - just an amalgamation of current approved budgets into one programme line within slippage being taken into account in the overall reprofiling proposals. 

 

 

·      Approves the splitting out and the renaming of the historic budget for the ‘Westlands building improvements’ budget of £0.552m with £0.452m moving to the ‘Westlands Events Hall Boiler Replacement and Improvements’ and £0.100m moving to the ‘Westlands Sports Hall Roof Repairs’.

 

 

·      Approves the virement of £0.424m from Decarbonisation of Operational Buildings - Phase 2 to Westlands Events Hall Boiler Replacement and Improvements Budget.

 

 

 

·      Approves the refinancing of the 2022/23 revised capital programme as set out in Table Nine.

Reason:

To provide District Executive with the current spending against the Council’s approved Capital Budget and the forecast position at year end (“outturn”), to explain estimated variations against budget, and to propose Revised Estimates to Full Council for the remainder of this financial year.

(Voting: unanimous in favour)

Supporting documents: