The report provides information on the projected capital outturn for 2015/16 as at September 2015. It excludes the Housing Revenue Account which is subject to a separate report. It excludes the Housing Revenue Account which is subject to a separate report.

1.      That the gross forecast which is below budget by £30.2m (£19m at period 6 last year against a lower budget of £116.8m) and the net forecast which is £21.5m below budget be noted.

2.      That a virement for £3.360m from HWRC Redevelopment project to the Thorn Turn Waste Park, Depot South and Depot and Salt Barn North Schemes be approved.

The Executive considered a report from the Executive Member for Corporate Resources that presented the capital financial position for 2015/16 as at September 2015.  The gross forecast was below budget by £30.2m with the net forecast being £21.5m below budget.

A virement was proposed from the Household Waste Recycling Centres Redevelopment to the Thorn Turn Waste Park project as the ground condition surveys and planning requirements had necessitated design changes.

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

RESOLVED

1.      that the gross forecast  which was below budget by £30.2m (£19m at period 6 last year against a lower budget of £116.8m), and the net forecast which was £21.5m below budget be noted; and

2.      that a virement for £3.360m from HWRC Redevelopment project to the Thorn Turn Waste Park, Depot South and Depot and Salt Barn North Schemes be approved.