Issue - meetings
Capital Outturn 2013/14
Meeting: 04/06/2014 - Cabinet (Item 8)
8 Capital Outturn 2013/14 PDF 177 KB
Lead Member – Mr Mike Owen, Portfolio Holder for Finance, Resources and Support.
Report of the Head of Finance, Governance and Assurance (Section 151 Officer) is attached, marked 8.
Contact: James Walton (01743 255011)
Additional documents:
- 8A Appendix 1 - Capital Monitoring Period 12, item 8
PDF 560 KB
- 8B Appendix 2 - Highways Programme 201415, item 8
PDF 249 KB
Decision:
(a) That approval be given to budget variations of £17,700 to the 2013/14 capital programme, detailed in Appendix 1/Table 1 and the re-profiled 2013/14 capital budget of £47.4m.
(b) That approval be given to the re-profiled capital budgets of £71.4m for 2014/15, including slippage of £6.6m from 2013/14, £13.7m for 2015/16 and £5.3m for 2016/17 as detailed in Appendix 1/Table 4.
(c) That the outturn expenditure set out in Appendix 1 of $40.7m, representing 85.9% of the revised capital budget for 2013/14 be accepted.
(d) That approval be given to the Highways and Transport programme of schemes for delivery in 2014/15 and authority be delegated to the Area Commissioner (South) in consultation with the Portfolio Holder to approve any changes to the implementation plan of schemes for delivery in 2014/15 within the parameters of the outline capital programme.
(e) That approval be given to the setting aside of capital receipt of £1.35m to replace the self-financed prudential borrowing previously applied to finance the Solar PV schemes. This would generate an ongoing revenue saving from 2014/15.
(f) That approval be given to retaining a balance of capita receipts set aside of £13.25m as at 31st March 2014 to generate a Minimum Revenue Provision saving of £530,000 in 2014/15.
Minutes:
8.1 The Portfolio Holder for Resources, Finance and Support presented a report by the Head of Finance, Governance and Assurance (Section 151 Officer) – copy attached to the signed minutes – on the final outturn position for the Council’s 2013/14 capital programme and the current position regarding the 2014/15 to 2016/17 taking into account the slippage following the closure of the 2013/14 programme, and any budget increases/decreases for 2014/15 and future years.
8.2 RESOLVED:
(a) That approval be given to budget variations of £17,700 to the 2013/14 capital programme, detailed in Appendix 1/Table 1 and the re-profiled 2013/14 capital budget of £47.4m.
(b) That approval be given to the re-profiled capital budgets of £71.4m for 2014/15, including slippage of £6.6m from 2013/14, £13.7m for 2015/16 and £5.3m for 2016/17 as detailed in Appendix 1/Table 4.
(c) That the outturn expenditure set out in Appendix 1 of $40.7m, representing 85.9% of the revised capital budget for 2013/14 be accepted.
(d) That approval be given to the Highways and Transport programme of schemes for delivery in 2014/15 and authority be delegated to the Area Commissioner (South) in consultation with the Portfolio Holder to approve any changes to the implementation plan of schemes for delivery in 2014/15 within the parameters of the outline capital programme.
(e) That approval be given to the setting aside of capital receipt of £1.35m to replace the self-financed prudential borrowing previously applied to finance the Solar PV schemes. This would generate an ongoing revenue saving from 2014/15.
(f) That approval be given to retaining a balance of capita receipts set aside of £13.25m as at 31st March 2014 to generate a Minimum Revenue Provision saving of £530,000 in 2014/15.