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.

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RESOLVED:

i)             That the net budget variations of £3m to the 2015/16 capital programme be approved, detailed in Appendix 1/Table 1 and the re-profiled 2015/16 capital budget of £62m. Including new allocations of capital receipt funding as follows:

§  £86k for the Mere warden’s bungalow refurbishment.

ii)            That the re-profiled capital budgets of £40.9m for 2016/17 and £28.1m for 2017/18 and £70k for 2018/19 be approved as detailed in Appendix 1/Table 4.

iii)           That the expenditure to date of £14.4m be accepted, representing 23.2% of the revised capital budget for 2015/16, with 42% of the year having elapsed.

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 2015/16 to 2018/19 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 2015/16 and future years.

RESOLVED:

That the net budget variations of £3m to the 2015/16 capital programme be approved, detailed in Appendix 1/Table 1 and the re-profiled 2015/16 capital budget of £62m. Including new allocations of capital receipt funding as follows:

i)    £86k for the Mere warden’s bungalow refurbishment.

ii)  That the re-profiled capital budgets of £40.9m for 2016/17 and £28.1m for 2017/18 and £70k for   

     2018/19 be approved as detailed in Appendix 1/Table 4.

iii)   That the expenditure to date of £14.4m be accepted, representing 23.2% of the revised capital budget for 2015/16, with 42% of the year having elapsed.