Issue - meetings

Consideration was given to a report presented by Pete Hudson, Chief Finance Manager, which detailed the unaudited capital outturn position for the 2013/14 financial year and recommend for approval changes to the programme for the financial years 2014/15 to 2016/17.  These changes have resulted from the 2013/14 outturn and scheme changes since the overall programme was agreed in March 2014, as part of the budget setting process.

For 2013/14 the Council’s capital investment into the regeneration and enhanced infrastructure of the Borough was £71.769m. The profile of this investment and the updated future expenditure plans were reflected in the Directorate summary table within the report. A detailed copy of the programme for each Directorate was also attached as appendices to the report.

The updated programme had been prepared in light of the capital resources known to be available to the Council over these financial years, and estimated on a prudent basis.

The Council was continuing to undertake a comprehensive review of its assets and buildings portfolio, with the aim to rationalise both its operational and non-operational asset holdings, which may contribute both a future capital receipt and a revenue saving.

The Select Commission welcomed this comprehensive report.

Resolved:-  (1)  That the unaudited 2013/14 capital outturn position be noted.

(2)  That the recommendation to Council to approve the updated 2014/15 to 2016/17 capital programme be noted.

-           Strategic Director of Finance to report.

Councillor Wyatt, Cabinet Member for Finance, introduced a report by the Director of Finance, which detailed the capital outturn position for the 2013/14 financial year and recommended for approval changes to the programme for the financial years 2014/15 to 2016/17.  These changes have resulted from the 2013/14 outturn and scheme changes since the overall programme was agreed in March 2014, as part of the budget setting process.

For 2013/14 the Council’s capital investment into the regeneration and enhanced infrastructure of the Borough was £71.769m. The profile of this investment and the updated future expenditure plans were reflected in the Directorate summary table within the report. A detailed copy of the programme for each Directorate was also attached as appendices to the report.

The updated programme had been prepared in light of the capital resources known to be available to the Council over these financial years, and estimated on a prudent basis.

The Council was continuing to undertake a comprehensive review of its assets and buildings portfolio, with the aim to rationalise both its operational and non-operational asset holdings, which may contribute both a future capital receipt and a revenue saving.

(1)           Resolved:-  that the 2013/14 capital outturn position be noted.

(2)           Recommend:-  That the updated 2014/15 to 2016/17 capital programme be approved.