Agenda item

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.

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.