Issue - meetings

That:

1)               the proposed rephasing to the Capital Programme following the annual budget profiling review from the Medium Term Financial Plan, to get more realistic profiling for financial management and cashflow purposes, as set out in paragraph 3 and Appendix B of the report be approved and noted;

2)               the position of the capital programme at the end of Quarter 1 (to 30 June 2021) as summarised in the report below and set out in detail in Appendix A to the report be noted;

3)               additional budget added to the capital programme for a parcel of land at Winnersh Triangle Station, for the Park and Ride project, to the value of £175k be noted and approved. Funded by a transfer of a nearby parcel of land to the same third party, also for £175k. 

The Executive considered a report setting out the Capital budget monitoring position for Quarter 1.

During his introduction the Executive Member for Finance and Housing drew Members’ attention to the fact that the Council was currently on target to achieve the objectives of its Capital Programme, including capital spend and investments relating to forward funding of infrastructure, schools etc. 

Councillor Halsall highlighted the potential capital underspend, which would have a significant impact on borrowing, and was likely to be £152m this year.

RESOLVED that:

1)               the proposed rephasing to the Capital Programme following the annual budget profiling review from the Medium Term Financial Plan, to get more realistic profiling for financial management and cashflow purposes, as set out in paragraph 3 and Appendix B of the report be approved and noted;

2)               the position of the capital programme at the end of Quarter 1 (to 30 June 2021) as summarised in the report below and set out in detail in Appendix A to the report be noted;

3)               additional budget added to the capital programme for a parcel of land at Winnersh Triangle Station, for the Park and Ride project, to the value of £175k be noted and approved. Funded by a transfer of a nearby parcel of land to the same third party, also for £175k.