Issue - meetings

Further to Minute No. 13 of the meeting of the Self Regulation Select Commission held on 12^th July, 2012, consideration was given to a report presented by Pete Hudson, Chief Finance Manager, which provided details of the current forecast outturn for the 2012/13 capital programme and facilitating a review of the capital programme for the financial years 2013/14 and 2014/15.

It was noted that the budget process leading to the original Capital Programme for 2012/13 to 2014/15 ensured that the Council’s capital investment plans were aligned with its strategic priorities and vision for Rotherham. In order to maintain that strategic link, and make best use of the capital resources available to the Council, it was important that the programme be kept under regular review and where necessary revisions made. This capital programme was initially reviewed in July 2012 (Minute No. 31 of the Cabinet meeting held on 4^th July, 2012 referred), after the finalisation of the 2011/12 outturn capital expenditure and financing and had now been the subject of a further review (Minute No. 77 of the Cabinet meeting held on 17^th October, 2012).

The results of the review were reflected in the Directorate summary table which formed part of the report along with detailed analysis of the capital programme for each Directorate.

Reference was made to the additional facilities at Wentworth C. of E. School and further information would be provided on the sources of funding.

The Select Commission noted that there would be some variances and slippage, which would be managed by continually keeping the programme under review.

Further information was also provided on capital receipts, which were sums of money arising from the disposal of any Council owned assets.  However, it was noted that significant costs were also being incurred for the security of vacant Council owned premises.

Resolved:- (1) That the report be received and its contents noted.

(2) That the approval of the updated 2012/13 to 2014/15 Capital Programme by full Council be noted.

-        Strategic Director of Resources to report.

Councillor Akhtar, Deputy Leader, introduced a report by the Strategic Director of Resources, which provided details of the current forecast outturn for the 2012/13 programme and enabled the Council to review the Capital Programme for the financial years 2013/14 and 2014/15

In order to maintain the strategic link and make best use of the Capital resources available to the Council, it was important that the Programme was kept under regular review and, where necessary, revisions made.  The Programme was initially reviewed in July, 2012, following the finalisation of the 2011/12 outturn Capital expenditure and financing and had now been the subject of a further review, the results of which were reflected in the Directorate summary table set out in the report.  A detailed analysis of the Programme for each Directorate was also attached at Appendices 1 to 4 of the report submitted.

The Capital Programme was funded through a number of sources borrowing (both supported and unsupported), capital grants and contributions, revenue contributions and capital receipts.  Any uncertainty over the funding of the Programme rested on confirmation that grants/contributions and capital receipts continued to be available in coming years. Where funding sources were volatile in nature the risks would be managed by continually keeping the programme under review.

(1)  Resolved:-  That the report be received and the contents noted.

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