Issue - meetings

To consider the report of the Cabinet Member for Finance.  The purpose of this report is to outline the General Fund and Housing Revenue Account capital outturn position for 2016/17 and seek approval for the proposed financing of the expenditure. This report also highlights the major variances against the approved estimates and sets out the revised estimates for 2017/18 and future years which take account of slippage and re-phasing, attached. 

The report of the Cabinet Member for Finance was submitted outlining the General Fund and Housing Revenue Account capital outturn position for 2016/17 and seek approval for the proposed financing of the expenditure.  This report also highlights the major variances against the approved estimates and sets out the revised estimates for 2017/18 and future years which take account of slippage and re-phasing. 

RESOLVED to:

(i)  Note the actual capital spending in 2016/17 as shown in paragraphs 3 to 5 and notes the major variances detailed in Appendix 1 and Appendix 2.

(ii)  Note the revised estimates for 2017/18, adjusted for slippage and re-phasing and additions contained within this report, as shown in Appendix 3.

(iii)  Approve the proposed capital financing in 2016/17 as shown in paragraph 6.

(iv)  Note that the capital programme remains fully funded up to 2020/21 based on the latest forecast of available resources although 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)  Note the reduction of £0.16M in 2017/18 to the Housing & Sustainability programme. As detailed in paragraph 22.

(vi)  Note the reduction of £0.09M in 2017/18 to the Environment &Transport - City Services programme. As detailed in paragraph 23.

(vii)  Approve the addition and spend of £0.16M in 2017/18 to the Leaders programme; to be funded from Council resources. As detailed in paragraph 24 and 25.

(viii)  Approve the addition and spend of £1.63M, £1.44M in 2017/18 and £0.19M in 2018/19 to the Transport programme; to be funded from capital grants. As detailed in paragraph 26 and 27.

(ix)  Note the addition of £0.16M to the programme since the last reported position in February 17, under delegated powers. As detailed in paragraph 30 and Appendix 4.

(x)  Approve the revised General Fund Capital Programme, which totals £208.99M (as detailed in paragraph 29) and the associated use of resources (as detailed in paragraph 31).

(xi)  Approve the revised HRA Capital Programme, which totals £233.17M (as detailed in paragraph 35) and the associated use of resources (as detailed in paragraph 34).