Issue - meetings

Capital Monitoring 2015/16 - end of September 2015

Meeting: 29/10/2015 - Executive (Item 72)

72 Capital Monitoring 2015/16 - end of September 2015 pdf icon PDF 150 KB

Additional documents:

Decision:

 

That:

1)        the Capital Monitoring report for 2nd quarter of 2015/16, as set out in Appendix A to the report, be noted;

 

2)        the allocation of s106 to currently approved projects, as listed in Appendix B to the report, which will reduce borrowing costs by £395,014.73 (plus indexation to be calculated) be approved.

 

Minutes:

The Executive considered a report setting out the current position of the Capital budget and requesting the allocation of s106 money to a number of currently approved projects.

 

The Executive Member for Economic Development and Finance informed the meeting that the Capital budget was on track and was only showing a slight variance of £14k; which in an overall budget of £1.7m was very small.  Councillor Pollock highlighted that the Council still had around £70m in investments which supports a large amount of the capital programme.

 

The Executive Member for Planning and Highways clarified that although it appeared that the Council was substantially underspending on roads this was not actually the case.  Because of the closure of the A327 it was decided to pull the work that was due to be undertaken on the barriers and this had the effect of pushing £1.5m worth of work into next year.  Also because a grant had been received for street lighting this had the effect of reducing that budget by about £8m and work had been delayed until confirmation of the grant was received.

 

The list of currently approved projects that required the allocation of s106 monies, as set out in Appendix B, was noted.

 

RESOLVED that:

1)        the Capital Monitoring report for 2nd quarter of 2015/16, as set out in Appendix A to the report, be noted;

 

2)        the allocation of s106 to currently approved projects, as listed in Appendix B to the report, which will reduce borrowing costs by £395,014.73 (plus indexation to be calculated) be approved.