HMRP Financial Monitoring - December, 2006
- report by Joel Gouget, Finance Manager
Minutes:
Joel Gouget, Finance Manager, submitted the financial monitoring of the Pathfinder Programme in 2006/07 as at the end of December, 2006.
The investment programme approved by TSY was £6.9M with expenditure to date of £2.8M and committed expenditure of £4.1M. In addition, Rotherham was pursuing additional expenditure of £1.2M which was the overprogramming element of the Programme for 2006/07 and was made up of acquisitions (£0.8M) and construction costs associated with the Westgate Demonstrator Project (£0.4M). This would being the total spend for 2006/07 to £8.1M.
At the end of December, 2006, the overall risk to deliver the Programme was rated as low as the projects scheduled to be delivered exceeded the HMR Pathfinder allocation. However the risks to the overprogramming element were medium to high as they were made up of acquisitions and delays in start of work on site 5. These would be closely monitored to protect the element of overprogramming included in the 2006/07 Delivery Plan.
Jeff Goode stated that he was confident of Rotherham’s financial position and in an excellent position to take up any extra money if available.
Agreed:- That the report be noted and that further reports be submitted on a monthly basis.