Issue - meetings

As detailed in the recommendations.

Councillor Banks introduced the Capital Programme – Final Outturn 2019/20 report which summarised the final outturn position together with changes made to the Capital Programme during the last quarter.

            The Capital Programme had seen a net reduction in budget of £6.348M during the last quarter which comprised of:

·         Net budget reduction in the programme of £0.494M – Council Fund (CF) £0.948M, Housing Revenue Account (HRA) £0.454M; and

·         Net Carry Forward to 2020/21 - £4.034M, additional School Maintenance Grant £2.185M partially offset by Carry Forward reversal of £0.365M.

The Corporate Finance Manager explained that actual expenditure for the year was £63.014M.  The final outturn funding surplus from the 2019/20 – 2021/22 Capital Programme was £1.145M.

The 2020/21 – 2022/23 Capital Programme was approved on 28^th January 2020, with a funding deficit of £2.264M.  The surplus carry forward would lead to an opening funding position deficit of £1.119M, prior to the realisation of additional capital receipts and/or other funding sources.

Councillor Carver, as Chair of Corporate Resources Overview and Scrutiny Committee, made the following comment:

“In these difficult and demanding times, Council staff are to be congratulated on their financial achievements in keeping on top of COVID-19 challenges which six months ago were unexpected”.

RESOLVED:

(a)       That the overall report be approved;

(b)       That the carry forward adjustments be approved; and

(c)        That the funding of schemes from the current ‘headroom’ be approved.