Agenda item

2022/23 Quarter 2 Capital Budget Monitoring Report for the Period Ending 30th September 2022 and 2022/23 Revised Estimates

Meeting of South Somerset District Council, Thursday 15th December 2022 7.30 pm (Item 87.)

Decision:

RESOLVED:	That Full Council agreed the Revised Estimates for the 2022/23 capital budget of £28.801m which incorporated:
	(i).	the slippage in the Capital Programme given in Table Two.
	(ii)	the addition of five S106 funded projects totalling £0.095m as set out in paragraphs 47.
	(iii)	a decrease to the Disabled Facilities Grants budget of £0.136m as explained in paragraph 40.
	(iv)	the proposed pausing and removal of budgets for uncommitted projects listed in Appendix B totalling £1.840m.
	(v)	the removal of remaining unspent budget amounts for completed projects totalling £0.050m listed in Appendix B.
	(vi)	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 did not materialise.
	(vii)	the inclusion of a new budget programme to be called “Capital works budget for investment property”. This would replace the separate budgets identified in the capital programme for individual commercial properties and did 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.
	(viii)	Approval of 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’.
	(ix)	approval of the virement of £0.424m from Decarbonisation of Operational Buildings - Phase 2 to Westlands Events Hall Boiler Replacement and Improvements Budget.
	(x)	approval of the refinancing of the 2022/23 revised capital programme as set out in Table Nine.
Reason:	To note the current spending against the Council’s approved Capital Budget and the forecast position at year end (“outturn”), and to agree the Revised Estimates for the remainder of this financial year.

(Voting: 30 in favour, 0 against, 2 abstentions)

Minutes:

The Portfolio Holder for Finance and Legal Services advised that the report had been thoroughly discussed at both Scrutiny and District Executive Committees and all questions had been answered. He noted that some of the projects had been re-profiled to help the new Somerset Council and some would be paused but not removed. He proposed that Council agree recommendation 3 (c ) and the list of proposals beneath.

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

· The Section 106 funding to improve the road junctions at Combe Street Lane, Lyde Road and Mudford Road were secured for when that scheme came forward.

· At the request of the Scrutiny Committee, the report of Section 106 funding would be presented to Scrutiny Committee and District Executive in January 2023.

· The annual Community Infrastructure Levy (CIL) report would shortly be published on the SSDC website.

· Every capital project was being looked at by SCC and the Octagon Theatre project would continue but costs would be kept under close review.

At the conclusion of the debate, the recommendations were seconded and confirmed by the majority of Members.

RESOLVED:	That Full Council agreed the Revised Estimates for the 2022/23 capital budget of £28.801m which incorporated:
	(i).	the slippage in the Capital Programme given in Table Two.
	(ii)	the addition of five S106 funded projects totalling £0.095m as set out in paragraphs 47.
	(iii)	a decrease to the Disabled Facilities Grants budget of £0.136m as explained in paragraph 40.
	(iv)	the proposed pausing and removal of budgets for uncommitted projects listed in Appendix B totalling £1.840m.
	(v)	the removal of remaining unspent budget amounts for completed projects totalling £0.050m listed in Appendix B.
	(vi)	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 did not materialise.
	(vii)	the inclusion of a new budget programme to be called “Capital works budget for investment property”. This would replace the separate budgets identified in the capital programme for individual commercial properties and did 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.
	(viii)	Approval of 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’.
	(ix)	approval of the virement of £0.424m from Decarbonisation of Operational Buildings - Phase 2 to Westlands Events Hall Boiler Replacement and Improvements Budget.
	(x)	approval of the refinancing of the 2022/23 revised capital programme as set out in Table Nine.
Reason:	To note the current spending against the Council’s approved Capital Budget and the forecast position at year end (“outturn”), and to agree the Revised Estimates for the remainder of this financial year.