Issue - meetings

Report of the Cabinet Member for Finance seeking approval of the General Fund
Capital Outturn 2015/16, attached.

The report of the Cabinet Member for Finance was submitted seeking approval of the General Fund Capital Outturn 2015/16.

RESOLVED

(i)  that the actual capital spending in 2015/16 as shown in paragraphs 4 and 5 of the report be noted together with the major variances detailed in Appendix 1 and Appendix 2 to the report;

(ii)  that the revised estimates for 2016/17, adjusted for slippage and re-phasing and additions contained within the report, as shown in Appendix 3 to the report be noted;

(iii)  that the proposed capital financing in 2015/16 as shown in paragraph 13 of the report be approved;

(iv)  that it be noted that the capital programme remains fully funded up to 2019/20 based on the latest forecast of available resourcesalthough the forecast can be subject to change; most notably with regard to the value and timing of anticipated capital receipts and the use of prudent assumptions of future Government Grants to be received;

(v)  that the addition and spend of £1.57M to the Environment and Transport portfolio capital programme in 2016/17 to fund the purchase of 10 refuse collection vehicles as detailed in paragraph 25 of the report be approved;

(vi)  that the addition and spend of £0.68M in 2015/16 to the Education and Children’s Social Care programme be approved, to be funded by a reduction in 2016/17, as detailed in paragraph 26 of the report and as shown in Appendix 4 to the report;

(vii)  that the 2016/17 budget virements within the Education and Children’s Social Care Programme be approved, to procure modular building for primary expansion, as detailed in paragraph 27 of the report and shown in Appendix 4 to the report;

(viii)  that the amendment to the funding source of the Studio 144 project, within the Leader’s Programme, whereby £1.80M be funded from mixture of capital grants, contributions and receipts instead of capital contributions from fundraising, as detailed in paragraph 28 of the report;

(ix)  that the addition and spend of £3.30M in 2016/17 to the Transformation programme be approved, to be funded from capital receipts, as detailed in paragraph 29 of the report; and

(x)  that the revised General Fund Capital Programme, which totals £182.84M (as detailed in paragraph 31 of the report) and the associated use of resources (as detailed in paragraph 32 of the report) be approved.