The report provides information on the projected capital outturn for 2015/16 as at June 2015.

1.      That the forecast position which is to spend £128.3M (£128.3M in February) compared to the budget of £138.3M, be noted.  The variance of £10.3M (£10.3M in February) includes proposed deferred spend of £7.8M.

2.      That the virement of £2.437M from the Household Recycling and Waste Centre redevelopment project to the Thorn Turn waste park and also the Depot and Salt Barn – North project, as set out in paragraph 19e, be approved.

The Executive considered a report from the Executive Member for Corporate Resources that set out the projected capital outturn position for 2015/16.  The forecast position was to spend £128.3m compared to the budget of £138.3m.

Members welcomed the Total Basic Need grant received from the Department of Education.  This reflected the work in support of the New School Places Programme in Central Bedfordshire.

In response to a question, the Executive Member for Corporate Resources was monitoring the affordability of the Capital Programme and reiterated the importance of maximising external funding.  During the 2016/17 budget process capital proposals would be scrutinised to ensure affordability.

Reason for decision:  To facilitate effective financial management and planning.

RESOLVED

1.      That the forecast position which is to spend £128.3m (£128.3m in February) compared to the budget of £138.3m, be noted.  The variance of £10.3m (£10.3m in February) includes proposed deferred spend of £7.8m.

2.      That the virement of £2.437m from the Household Recycling and Waste Centre redevelopment project to the Thorn Turn waste park and also the Depot and Salt Barn – North project, as set out in paragraph 19e, be approved.