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)

(a)  That approval be given to net budget variations of £1.3m to the 2014/15 capital programme, detailed in Appendix 1/Table 1 and the re-profiled 2014/15 capital budget of £69.6m.  Including new allocations of capital receipt funding as follows:

·         The Tannery Building Refurbishment Shrewsbury Hub £511,000;

·         Smallholding Refurbishment £149,940; and

·         Theatre Severn – Digital Projector £38,500.

(b)  That approval be given to the re-profiled capital budgets of £22.3m for 2015/16 and £5.3m for 2016/17 as detailed in Appendix 1/Table 4.

(c)  That the expenditure to date of £14.9m, representing 21.4% of the revised capital budget for 2014/15, with 42% of the year having elapsed, be accepted.

50.1    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 taking 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.

50.2    RESOLVED:

(a)  That approval be given to net budget variations of £1.3m to the 2014/15 capital programme, detailed in Appendix 1/Table 1 and the re-profiled 2014/15 capital budget of £69.6m.  Including new allocations of capital receipt funding as follows:

·         The Tannery Building Refurbishment Shrewsbury Hub £511,000;

·         Smallholding Refurbishment £149,940; and

·         Theatre Severn – Digital Projector £38,500.

(b)  That approval be given to the re-profiled capital budgets of £22.3m for 2015/16 and £5.3m for 2016/17 as detailed in Appendix 1/Table 4.

(c)  That the expenditure to date of £14.9m, representing 21.4% of the revised capital budget for 2014/15, with 42% of the year having elapsed, be accepted.