- Director of Finance to report.
The Director for Finance presented a report that provided the Capital Programme Budget Monitoring report for 2014/2015 and an outline for the Capital Programme Budgets for 2015/2016 and 2016/2017.
The forecast outturn for the 2014/2015 budget included the 2014/2015 revised estimate, the variance from the last report, the 2015/2016 estimate, the 2015/2016 variance from the last report, the 2016/2017 estimate and the 2016/2017 variance from the last report for the Council’s four Directorates.
The submitted report provided commentary on how each Directorate was using their capital funding during 2014/2015. The Director of Finance explained the role of the officer group in scrutinising and accepting or rejecting new applications for capital funding.
The Director of Finance reported that there had been slippage on the new teaching block at Wickersley School and Sports College and the new Central Primary School and areas of the Environment and Development Services.
Discussion ensued on the £600k of grant funding that had been received in 2014/2015 in order to meet the Government’s requirement to provide universal Free School Meals to all infant-aged school children. The funding was being spent on capital works to kitchens including extensions and new kitchen equipment. The Self-Regulation Select Commission requested more information about this process and whether it was due to complete on-time and on budget.
Q: - Councillor Ellis asked for more information about the occupancy rate of the Borough’s business investment units.
A: - These were managed by the Council’s Asset Management Service who worked to attract international interest and investment in the Borough. If occupancy rates were starting to drop, or if there were good news stories it would be reflected in income monitoring reports. The Service needed to ensure that it had available capacity to respond to new enquiries.
Resolved: - (1) That the report be received and its content noted.
(2) That the Council’s decision to approve the updated 2014/2015 to 2016/2017 capital programme budget be noted.
(3) That further information be requested in relation to the capital programme around the requirement to deliver universal Free School Meals for infant-aged school children.
- Director of Finance to report.
Councillor Hoddinott, Deputy Leader, introduced a report by the Director of Finance, which provided details of the current forecast outturn for the 2014/15 programme and enabled the Council to review the capital programme for the financial years 2015/16 and 2016/17.
The budget process that led to the original Capital Programme for 2014/15 to 2016/17 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 this programme be kept under regular review and where necessary revisions made. This programme was initially reviewed in June 2014, following the finalisation of the 2013/14 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 as set out in detail as part of the report along with the detailed analysis of the programme for each Directorate.
The financial implications of the Programme were reflected in the Council’s Medium Term Financial Strategy (MTFS) and Treasury Management and Investment Strategy.
(1) Resolved:- That the report be received and the contents noted.
(2) Recommended:- That the updated 2014/15 to 2016/17 Capital Programme be approved.