Issue - meetings

Capital Monitoring 2017/18 - end of December 2017

Meeting: 25/01/2018 - Executive (Item 83)

83 Capital Monitoring 2017/18 - end of December 2017 pdf icon PDF 157 KB

Additional documents:

Decision:

That:

 

1)        the Capital Monitoring report for the 3rd quarter of 2017/18, as set out in Appendix A to the report, be noted;

 

2)        the release of funding of the 2017/18 Capital programme by the receipt of ring-fenced capital grants and contribution be approved and noted for:-

 

·      Grant to develop 52 Reading Road (to provide accommodation for young adults) from the Home and Communities Agency (Platform for Life Programme) of £228k;

 

3)           an increase in the overall value of the 2017/18 Capital Programme due to the receipt of ring-fenced capital grants be approved and noted for:-

 

·      Disabled Facilities Grant (DFG) of £214k.

 

 

Minutes:

The Executive considered the Capital Monitoring report for the third quarter of 2017/18.

 

The Executive Member for Finance introduced the report and stated that the monitoring data at the end of Quarter 3 indicated an underspend variance forecast against budget of £855k. The current approved Capital Budget stood at £127.720m. It was now estimated that £93.337m would be spent in 2017/18 with the underspend of £855k. The remaining budget of £31.528m would be carried forwards in to 2018/19.

 

The report also gave details of two ring-fenced Capital grants relating to:

 

·           £228k from the Home and Communities Agency for the development of 52 Reading Road, to provide accommodation for young adults and;

 

·           £214k Disabled Facilities Grant to fund adaptations and facilities to enable residents to continue living in their homes.

 

In response to a question from Councillor Ashwell, Councillor McGhee-Sumner confirmed that the development at 52 Reading Road was on time and on budget.

 

RESOLVED That:

 

1)        the Capital Monitoring report for the 3rd quarter of 2017/18, as set out in Appendix A of the report, be noted;

 

2)        the release of funding of the 2017/18 Capital programme by the receipt of ring-fenced capital grants and contribution be approved and noted for:-

 

·    Grant to develop 52 Reading Road (to provide accommodation for young adults) from the Home and Communities Agency (Platform for Life Programme) of £228k;

 

3)        an increase in the overall value of the 2017/18 Capital Programme due to the receipt of ring-fenced capital grants be approved and noted for:-

 

·    Disabled Facilities Grant (DFG) of £214k.