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 to follow.

Contact – James Walton (01743 255011)

(a)  That approval be given to the net budget variations of £0.5m to the 2014/15 capital programme, detailed in Appendix 1/Table 1 and the re-profiled 2014/15 capital budget of £70.9m.

(b)  That approval be given to the re-profiled capital budgets of £18.3m for 2015/16 and £5,4m for 2016/17 as detailed in Appendix 1/Table 4.

(c)  That Council be recommended to approve the budget increases for new external funding of £2.24m in additional Highways Maintenance funding from the Department of Transport for expenditure in 2014/15 and an additional £1.5m grant for BDUK for the current Broadband Project.

(d)  That the expenditure to date of £5.7m, representing 8.1% of the revised capital budget for 2014/15, with 25% of the year having elapsed, be accepted.

26.1    The Portfolio Holder for Finance, Resources and Support presented a report by the Head of Finance, Governance and Assurance (Section 151 Officer) – copy attached to the signed minutes – on the current position for the Council’s 2014/15 to 2017/18 capital programme which took into account the latest monitoring information on the progress of the schemes, any necessary budget increases and decreases and the re-profiling of budgets between 2014/15 and future years.

26.2    RESOLVED:

(a)  That approval be given to the net budget variations of £0.5m to the 2014/15 capital programme, detailed in Appendix 1/Table 1 and the re-profiled 2014/15 capital budget of £70.9m.

(b)  That approval be given to the re-profiled capital budgets of £18.3m for 2015/16 and £5,4m for 2016/17 as detailed in Appendix 1/Table 4.

(c)  That Council be recommended to approve the budget increases for new external funding of £2.24m in additional Highways Maintenance funding from the Department of Transport for expenditure in 2014/15 and an additional £1.5m grant from BDUK for the current Broadband Project.

(d)  That the expenditure to date of £5.7m, representing 8.1% of the revised capital budget for 2014/15, with 25% of the year having elapsed, be accepted.