Issue - meetings

Capital Outturn 2018-19

Meeting: 30/05/2019 - Executive (Item 7)

7 Capital Outturn 2018-19 pdf icon PDF 969 KB

Additional documents:

Decision:

That:

 

1)        the Quarter 4 adjustments to the capital programme, as set out in Appendix C to the report, be approved;

 

2)        the 2018/2019 Capital Outturn, as set out in Appendix A to the report, be noted;

 

3)        the re-profiling of budgets into future financial years, as set out in Appendix B to the report, be approved.

Minutes:

The Executive considered a report setting out the capital programme outturn for 2018/19.

 

The Executive Member for Finance and Housing went through the report and advised that its purpose was to set out the capital programme outturn position for 2018/2019, seek approval for relevant budget carry forwards and demonstrate effective and safe use of the Council’s resources to deliver services. 

 

Councillor Kaiser highlighted that in 2018/19 the Council, against a working budget of £146.5m, had made a total capital investment in services of £132.2m.  It was noted that the underspend of £14.3m was mainly due to a re-appraisal of two schemes and once they had been reviewed a new bid/scheme would be raised, evaluated and if agreed added to the programme. 

 

In addition Members’ attention was drawn to the fact that for the second year running the Council had delivered more capital investment than in any other year of the Council’s history; a large percentage of which related forward funded infrastructure eg roads to improve congestion around the Borough.

 

Councillor Jorgensen asked for further information on the £73.8m of prudential borrowing that had been used to fund capital expenditure in 2017/18 and particularly that £30m of this funding had come from internal borrowing.  Councillor Kaiser explained that the £73.8m figure was mainly predicated on expected S106 and CIL money which enabled forward funding as much as possible of projects eg roads, even though the Council had not yet received the money from the relevant developer.  Councillor Kaiser provided the example of the Winnersh Relief Road which was being forward funded as it was deemed an important part of the infrastructure for that area.

 

With regard to an earlier question from Councillor Bray about retrospective approvals Councillor Kaiser advised that he would look into this matter and find out why it had happened.

 

RESOLVED that:

 

1)        the Quarter 4 adjustments to the capital programme, as set out in Appendix C to the report, be approved;

 

2)        the 2018/2019 Capital Outturn, as set out in Appendix A to the report, be noted;

 

3)        the re-profiling of budgets into future financial years, as set out in Appendix B to the report, be approved.