Issue - meetings

Cllr de Rhe-Philipe presented a report on the monitoring of the capital

budget for the period April – December 2009. The report also drew Cabinet’s attention to various changes to the capital programme and sought approval of additional budget requirements in respect of the second element of the affordable housing bid to fill the funding gap.

It was noted that there was a projected variation of £4.116m against the full year budget for 2009/10

Resolved:

That Cabinet:

(i)                             note the current financial position of the 2009/10 capital budget and 

(ii)        note the budget changes in sections 1 and 2 of Appendix B  and to approve the additional budget requirement as detailed in section 3 of Appendix B of the report presented.

Reason for Decision

To inform Cabinet of the current financial position of the 2009/10 capital budget and to identify schemes within the programme where expenditure is not progressing as anticipated.