Issue - meetings

To consider the report of the Cabinet Member for Finance and Customer Experience informing Cabinet of any major changes in the overall General Fund and Housing Revenue Account (HRA) capital programme for the period 2018/19 to 2021/22, highlighting the changes in the programme since the last reported position to Cabinet in November 2018. The report also notes the major forecast variances against the approved estimates.

On consideration of the report of the Cabinet Member for Finance and Customer Experience, Cabinet noted the following:

(i)  That the overall forecast position at 31st December 2018 is £117.02M, resulting in a potential underspend of £27.08M, as detailed in table 3, and Appendix 1.

(ii)  That £8.73M has been added to the programme as at 31st December 2018 under the relevant approvals and that approval will be sought to add a further £44.64M to the programme as part of the Capital Strategy & Programme update report to Council in February 2019. These additions will be reported in due course. The additions of £8.73M are detailed in tables 1 and 2 and paragraphs 6.

(iii)  That the capital programme remains fully funded up to 2022/23 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.