Issue - meetings

That:

1)        the Capital Outturn and committed carry forwards (for 2016/17), as set out in Appendix A to the report, be noted;

2)        the carry forwards for schemes which are awaiting contractual commitment (totalling £1.129m), as set out in Appendix B to the report, be approved;

3)        it be noted that the overall value of the 2017/18 capital programme has increased due to the receipt of ring fenced capital grant for Early Years in the sum of £387k.

The Executive considered a report setting out the outturn position for the capital budget, including a number of carry forwards.

The Executive Member for Finance highlighted that the total investment in capital projects was £78m; which was a growth of 59% from the previous year.  Projects overall were delivered in line with the budget and the final outturn was an underspend of £3.8m.

Councillor Whittle explained that the carry forwards, totalling £1.1m out of a £153m budget was a very modest carry forward.  He drew Members’ attention to the projects that made up the total expenditure on capital projects for 2016/17 of £76.883m; which was the highest investment that the Council had made in any single year.

The Leader of Council was pleased to see so much investment in capital projects and particularly highlighted the provision of superfast broadband which was just about to move into its next phase which would deliver broadband to 99.5% of the Borough.

RESOLVED that:

1)        the Capital Outturn and committed carry forwards (for 2016/17), as set out in Appendix A to the report, be noted;

2)        the carry forwards for schemes which are awaiting contractual commitment (totalling £1.129m), as set out in Appendix B to the report, be approved;

3)        it be noted that the overall value of the 2017/18 capital programme has increased due to the receipt of ring fenced capital grant for Early Years in the sum of £387k.