Issue - meetings

Issue - meetings

Provisional Capital Outturn Report 2016/17 (subject to audit)

Meeting: 20/06/2017 - EXECUTIVE (Item 14)

14 March 2017 Capital Budget Monitoring Provisional Outturn Report (subject to audit) pdf icon PDF 21 KB

 

The report sets out the Provisional Capital Outturn (subject to audit) for 2016/17 as at the end of March 2017. 

Additional documents:

Decision:

RESOLVED

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).

Minutes:

 

The Executive considered a report from the Deputy Leader and Executive Member for Corporate Resources that set out the provisional capital outturn for 2016/17 as at the end of March 2017.

 

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

 

RESOLVED

 

1.         that the capital gross provisional outturn position, which was 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

 

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).