Issue - meetings

That:

1)        the Capital Outturn and committed carry forwards for 2015/16, as set out in Appendix A to the report, be noted;

2)        the carry forwards for schemes which are awaiting contractual commitment (totalling £8.63m), as detailed in Appendix B to the report, be approved.

The Executive considered a report setting out the outturn for the Capital Budget for 2015/16 and the committed carry forwards.

The Executive Member for Finance and Resources advised the meeting that projects were now being divided into those that were expected to happen next year and those for the following year as often projects took a while to come to fruition.  It was however important to ensure that there was enough money in the budget to undertake the project which may mean that money had to be carried forward from one year to another.

Councillor Pollock highlighted the summary of in-year movements, which showed funding pressures on the new secondary school and a reduction in the LED street light programme, and also the actual expenditure for 2015/16; half of which had been spent on schools projects to address the increase of children in the Borough.  In addition Members’ attention was drawn to the amount spent on social housing; highways maintenance; bridges and roundabout improvements as well as nearly £1m on cycleway improvements.

RESOLVED That:

1)        the Capital Outturn and committed carry forwards for 2015/16, as set out in Appendix A to the report, be noted;

2)        the carry forwards for schemes which are awaiting contractual commitment (totalling £8.63m), as detailed in Appendix B to the report, be approved.