That:

1)        the Capital Monitoring report for the 2^nd quarter of 2017/18, as set out in Appendix A to the report, be noted;

2)        the following Supplementary Estimate (to add new budget to the 2017/18 Capital Programme be approved:

·         For £150k as part of Gorse Ride Phase 1 project to decant tenants from existing homes to be demolished (budget to be funded by Housing Revenue Account (HRA) reserves);

3)        it be approved and noted that the overall value of the 2017/18 Capital Programme budget has increased due to the receipt of ring fenced capital grants and contribution, for:

·         Grant for Ryeish Green Sports Hub from Football Foundation of £245k.

The Executive considered a report setting out the Capital Monitoring report to the end of September 2017 which included a proposed supplementary estimate in the sum of £150k to fund part of the Gorse Ride Phase 1 project.

The Executive Member for Finance went through the report and advised that the Capital Budget was forecasting an £890k underspend variance against budget for the year which was mainly due to highway infrastructure flood alleviation schemes.  The Capital budget for the year was £124.744m with an expectation that £99.236m would be spent and £24.6m carried forward to next year.

Councillor Whittle informed the meeting that a new budget of £150k was being requested to move residents of Gorse Ride South to allow for the regeneration of that area which would provide new high quality mixed tenure homes.  He also advised that the Council had received a ring fenced grant of £245k from the Football Foundation for the Ryeish Green Sports Hub.

RESOLVED that:

1)        the Capital Monitoring report for the 2^nd quarter of 2017/18, as set out in Appendix A to the report, be noted;

2)        the following Supplementary Estimate (to add new budget to the 2017/18 Capital Programme) be approved:

·         For £150k as part of Gorse Ride Phase 1 project to decant tenants from existing homes to be demolished (budget to be funded by Housing Revenue Account (HRA) reserves);

3)        it be approved and noted that the overall value of the 2017/18 Capital Programme budget has increased due to the receipt of ring fenced capital grants and contribution, for:

·         Grant for Ryeish Green Sports Hub from Football Foundation of £245k.