March 2017 Capital Budget Monitoring Provisional Outturn Report (subject to audit)
Decision Maker: EXECUTIVE
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
The report sets out the Capital projected
outturn for 2016/17 (subject to audit) as at the end of March 2017.
It excludes the Housing Revenue Account (HRA) which is subject to a
1. That the capital gross provisional outturn position, which is a spend of £98.7M (£94.2M in 2016/17) be noted, demonstrating the continued significant capital investment made by Central Bedfordshire to support its community.
2. That the net overspends between £150K and £500K be approved. Only two schemes were over budget by this amount – a) New Highways Contract Mobilisation in Community Services £0.219M (see paragraph 59 in Appendix A to the report) and b) Information Assets £0.329M (see paragraph 96 in Appendix A to the report).
3. That the proposed gross deferred spend of £41.6M (£22.6M net) from 2016/17 to 2017/18, as detailed at Appendix B to the report, be noted. This was approved by the Leader, Deputy Leader, Chief Executive Officer and Director of Resources under a delegated authority given by the Executive on 4 April 2017 due to the accelerated timescale for the accounts closure.
RECOMMENDED to Council
1. That the net overspend on the following items be approved:
· Woodside Link £8.01M (see paragraph 55 in Appendix A to the report);
· New Schools Places £2.32M (see paragraph 21 in Appendix A to the report); and
· Stratton Park Infrastructure Works £0.70M (see paragraph 37 in Appendix A to the report).
Report author: Denis Galvin
Publication date: 22/06/2017
Date of decision: 20/06/2017
Decided at meeting: 20/06/2017 - EXECUTIVE
Effective from: 30/06/2017