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Agenda item

Financial Year 2021/2022 - Quarter Two Capital Budget Monitoring

Report of the Chief Executive. 

 

Minutes:

Cllr Pauline Church, Cabinet Member for Finance & Procurement, Commissioning, IT, Digital and Commercialisation presented the report which provided information about the Capital Programme for 2021/22 as of 30 September 2021 for the second quarterly budget monitoring period.

 

Public questions were received from Richard Curr and Nick Parry in relation to the contents of the report. The Leader acknowledged that the questions had received responses and that these were published on the Council’s website prior to the meeting and could be viewed here at Supplement 1.

 

Cllr Church reported in detail about movements from the original budget set by Full Council in February 2021 to the revised programme and commented on how the programme is forecast to be financed.  The report provided an update on the significant programmes that are planned to be delivered and those that have been reprofiled to future years.

 

Cllr Pip Ridout, Chair of the Financial Planning Task Group, informed Cabinet that the Task Group had considered the report at its meeting held on 26 November 2021. The Task Group welcomed the continual investment and were reassured that the Capital Budget is being managed well. There were no significant issues raised and the Task group supported the proposals and commended it to the Cabinet for approval.

 

Cllr Ian Thorn commented on the constant challenge to complete budget investments and questioned whether further work was necessary to improve the efficient spending of the budget. Cllr Church explained that the Council focusses on the deliverability of the schemes detailed in the Capital Programme which in turn provides transformation. It was noted that there was an impact on the deliverability of the Capital Programme due to the Council’s response to COVID-19.  The Leader confirmed that the Business Plan would contain further information about the Council’s budget.

 

Resolved:

 

To note:

a)    the additional capital budgets of £0.164m that have been added to the 2021/22 programme under Chief Finance Officer delegated powers;

 

b)    the reduced capital budgets of £2.620m as approved by Cabinet as part of the quarter 1 report;

 

c)    The reprofile of £55.759m of budgets into future years under Chief Finance Officer delegated powers;

 

d)    Budget Movements between Schemes;

 

e)    The Revised 2021/22 Capital Programme as at quarter 1 of £166.340m; and

 

f)     The Capital spend as of 30 September 2021 of £43.379m

 

 

To approve:

 

g)    Allocate and re-profile £0.275m capital budget from Other Capital Schemes to be confirmed to Electric Vehicle Charing Infrastructure Plan in line with the cabinet recommendations on the 12th October 2021;

 

h)    Allocate and reprofile £0.860m capital budget from Other Capital Schemes to be confirmed to Depot Strategy to cover the forecast overspend on phase 1;

 

i)      Remove the remaining budget of £1.117m from Other Capital Schemes to be confirmed all future new capital requests will need to go to cabinet and then on to Full Council if committing the Council to new borrowing;

 

j)      Increase Capital Receipt Enhancement Budget by £0.500m to fund the demolition of former Christie Miller leisure centre in Melksham, which will be financed from future capital receipts;

 

k)    The change that the tenant at Porton Innovation Centre will now pay for the furnishing and the Council will continue to pay for the Mechanical and Engineering but recover the cost over ten years instead of five as originally approved by Cabinet in June 2021; and

 

l)      That the £0.400m allocated towards the replacement of Millstream Approach East Bridge is no longer required following the outcome of structural assessment work. To approve that £0.150m of this budget can be reallocated to the redevelopment of the coach park and approve the removal of the remaining budget from the capital programme.

 

Reason for decision:

 

To inform effective decision making and ensure sound financial management as part of the Councils overall control environment.

 

To inform Cabinet on the financial position of the Council on the 2021/22
capital programme as at quarter 2 (30 September 2021).

 

Supporting documents:

 

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