Issue - meetings

Further to Minute No. 31 of the meeting of the Cabinet held on 4th July, 2012, consideration was given to a report presented by Andrew Bedford, Strategic Director of Resources, and Councillor Akhtar, Deputy Leader, which set out the capital outturn position for the 2011/12 financial year and recommended for approval changes to the programme for the financial years 2012/13 to 2014/15 resulting from the 2011/12 outturn and scheme changes since the overall programme was agreed in February, 2012 as part of the budget setting process.

The current economic climate and the ongoing impact of the Government’s austerity measures required that the Capital Programme was subject to continual oversight, and if necessary, revision, to ensure that the Council’s capital investment plans were aligned with strategic priorities and maximised the value from the limited capital resources available.

The financial implications of the Programme were reflected in the Council’s Medium Term Financial Strategy (MTFS) and Treasury Management and Investment Strategy.

For 2011/12 the Council’s capital investment into the regeneration and enhanced infrastructure of the Borough was £93.983m. The profile of this investment and the updated future expenditure plans were reflected in the Directorate summary table set out in the report, along with a detailed copy of the programme for each Directorate.

Discussion ensued about the reasons for variances, reasons and reassurances for the slippages and the opportunities/benefits on the schemes being delivered, underspends arising from the LTP IT funding and the detail as to why this had occurred, sharing of information with Elected Members, other investment projects, discussions with local businesses/partners regarding regeneration of the Town Centre and other strategic locations in the Borough, the sum of the Council’s contribution to the A57 scheme, impacts of any restructuring within Directorates and the difficulties in predicting the sums for capital receipts.

Resolved:-  (1)  That the 2011/12 capital outturn position be noted.

(2)  That the updated 2012/13 to 2014/15 capital programme, for approval by Council, be noted.

(3)  That further information be provided on the Highways LTP IT funding underspend and on the Council’s contribution to the A57 Scheme.

-        Strategic Director of Resources to report.

Councillor Akhtar, Deputy Leader, introduced a report by the Strategic Director of Resources, which set out the capital outturn position for the 2011/12 financial year and recommend for approval changes to the programme for the financial years 2012/13 to 2014/15 resulting from the 2011/12 outturn and scheme changes since the overall programme was agreed in February, 2012 as part of the budget setting process.

The current economic climate and the on-going impact of the Government’s austerity measures required that the capital programme was subject to continual oversight, and if necessary, revision, to ensure that the Council’s capital investment plans were aligned with strategic priorities and maximised the value from the limited capital resources available.

The financial implications of the Programme were reflected in the Council’s Medium Term Financial Strategy (MTFS) and Treasury Management and Investment Strategy.

For 2011/12 the Council’s capital investment into the regeneration and enhanced infrastructure of the Borough was £93.983m. The profile of this investment and the updated future expenditure plans were reflected in the Directorate summary table set out in the report, along with a detailed copy of the programme for each Directorate

(1) Resolved:-  That the 2011/12 capital outturn position be noted.

(2)  Recommended:-  That the updated 2012/13 to 2014/15 capital programme be approved.