Lead Member – Mr Mike Owen, Portfolio Holder for Finance, Resources and Support.

Report of the Head of Finance, Governance and Assurance is attached, marked 8.

Contact – James Walton (01743 255001)

(a)  That approval be given to the budget variations of £209,067 to the 2014/15 capital programme, detailed in Appendix 1/Table 1 and the re-profiled 2014/15 capital budget of £66.4m.

(b)   That approval be given to the re-profiled capital budgets of £66.6m for 2015/16, including slippage of £12.1m from 2014/15, £34.6m for 2016/17 and £27.5m for 2017/18 as detailed in Appendix 1/Table 4.

(c)  That the outturn expenditure set out in appendix 1 of £54.2m, representing 81.7% of the revised capital budget for 2014/15 be accepted.

(d)  That approval be given to retaining a balance of capital receipts set aside of £14.1m as at 31st March 2015 to generate a Minimum Revenue Provision saving of £564,000 in 2015/16.

24.1    The Leader presented a report by the Head of Finance, Governance and Assurance – copy attached to the signed minutes – on the final outturn position for the Council’s 2014/2015 capital programme and the current position regarding the 2015/2016 to 2017/2018 capital programme taking into account the slippage following the closure of the 2014/2015 programme, and any budget increases/decreases for 2014/2015 and future year.

24.2    During the ensuing discussion a Member expressed concern at the non implementation of various highways schemes in 2014/2015 and comments made to him by residents about the maintenance of roads in the country.  In response the Leader indicated that he and the Chief Executive had met yesterday with representatives of Ringway regarding the same matters with another meeting planned in the near future which would hopefully address these concerns.

24.3    RESOLVED:

(a)  That approval be given to the budget variations of £209,067 to the 2014/15 capital programme, detailed in Appendix 1/Table 1 and the re-profiled 2014/15 capital budget of £66.4m.

(b)   That approval be given to the re-profiled capital budgets of £66.6m for 2015/16, including slippage of £12.1m from 2014/15, £34.6m for 2016/17 and £27.5m for 2017/18 as detailed in Appendix 1/Table 4.

(c)  That the outturn expenditure set out in appendix 1 of £54.2m, representing 81.7% of the revised capital budget for 2014/15 be accepted.

(d)  That approval be given to retaining a balance of capital receipts set aside of £14.1m as at 31st March 2015 to generate a Minimum Revenue Provision saving of £564,000 in 2015/16.