Issue - meetings

As detailed in the recommendations.

The Corporate Finance Manager introduced the Capital Programme 2018/19 (Month 4) report which summarised the changes made to the Capital Programme 2018/19 since it was set in February 2018 to the end of Month 4 (July 2018), along with expenditure to date and projected outturn.

            The Capital Programme had seen a net increase of £16.125m during the period, which was comprised of:

·         Net increases in the programme of £8.420m (CF £9.676m, HRA (£1.256m)); and

·         Introduction of Carry Forward from 2017/18 of £7.705m.

Actual expenditure was £13.728m

The final outturn for 2017/18 was a minor funding deficit of £0.068.  There had been a small number of capital receipts in year which, together with a projected shortfall of £8.216 in the Capital Programme 2018/19 to 2020/21 and a request for an additional allocation of £0.500 towards the relocation of services to Unity House, put the current funding deficit, for the 3 year period, at £8.719.  This was in advance of any capital receipts or other funding being released.

The Chief Executive added that the report had been submitted to Corporate Resources Overview and Scrutiny Committee the previous week where no challenges were made.

RESOLVED:

(a)       That the overall report be approved;

(b)       That the carry forward adjustment set out in the report be approved; and

(c)        That the additional allocation of £0.500m for the relocation of services to Unity House be approved.