Issue - meetings
Capital Programme 2014/15 (Month 4)
Meeting: 16/10/2014 - Cabinet (Item 68)
68 Capital Programme 2014/15 (Month 4) PDF 136 KB
- Enc. 1 for Capital Programme 2014/15 (Month 4), item 68 PDF 53 KB
- Enc. 2 for Capital Programme 2014/15 (Month 4), item 68 PDF 180 KB
As detailed in the recommendations.
The Corporate Finance Manager provided Members with the Month 4 (end of July) capital programme information for 2014/15 which detailed the cumulative information relating to each programme as shown in appendix A to the report.
Changes during the period, details of which were provided in the report, had resulted in a net increase in the programme of £3.060m (Council Fund £2.530m, Housing Revenue Account (HRA) £0.530m).
Actual expenditure at the end of July (Month 4) across the whole of the programme was £7.088m. The breakdown of expenditure was detailed in the report which showed that 16.16% of the budget had been spent across the programme (Council Fund 14.45% and HRA 20.38%).
The Early Identified Rollover of £0.276m had been identified which reflected reviewed spending plans across all programme areas. Those combined amounts had been identified as now required to meet the cost of programme works in 2015/16. Information relating to each programme area was contained in appendix B and summarised in the table in the report.
The original estimate for in year capital receipts was £1.250m, of which £0.488m would be used to finance capital expenditure in 2014/15 and £0.762m to address the projected shortfall in capital receipts from 2013/14. The latest reviewed position assumed receipts at the budgeted level of £1.250m, with the largest amount of the receipts anticipated to be received in March 2015. There were no receipts received at Month 4.
The outturn shortfall in 2013/14 was £1.578m, which, together with some minor adjustments and the assumed level of capital receipts, currently indicated a total shortfall in 2014/15 of £0.843m. The first call on any excess receipts, above the budgeted figure of £1.250m, received in the current year would be to address the brought forward shortfall.
(a) That the report be noted and approved; and
(b) That the rollover adjustments be approved.