To report the provisional capital outturn for 2017/18 as at the end of March 2018 (subject to audit).

RESOLVED

1.         That the capital gross provisional outturn position, which is a spend of £63.2M (£98.7M in 2017/18) 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 as listed at Appendix B to the report, be approved.

3.         That the proposed gross deferred spend of £51.5M (£30.1M net) from 2017/18 to 2018/19 as detailed at Appendix C to the report, be noted. This was approved by the Leader, Deputy Leader, Chief Executive and Director of Resources under a delegated authority given by the Executive on 3 April 2018 due to the accelerated timescale for the accounts closure.

RECOMMENDED to Council

That the net overspend be approved on:

a)      Library and Leisure Centre renewal in Dunstable £1.596M (paragraph 43*)

b)      Flitwick Leisure Centre Redevelopment £3.037M (paragraph 43*)

c)      Woodside Link £1.101M (paragraph 49*)

d)      Fleet replacement programme £0.624M (paragraph 49*).

*Appendix A to the Executive report.

The Executive considered a report from the Deputy Leader and Executive Member for Corporate Resources that set out the provisional capital outturn for 2017/18 as at the end of March 2018.

The reason for decision:  To facilitate effective financial management and planning.

RESOLVED

1.         that the capital gross provisional outturn position, which was a spend of £63.2M (£98.7M in 2017/18) 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 as listed at Appendix B to the report, be approved; and

3.         that the proposed gross deferred spend of £51.5M (£30.1M net) from 2017/18 to 2018/19 as detailed at Appendix C to the report, be noted. This was approved by the Leader, Deputy Leader, Chief Executive and Director of Resources under a delegated authority given by the Executive on 3 April 2018 due to the accelerated timescale for the accounts closure.

RECOMMENDED to Council

that the net overspend be approved on:

a)      Library and Leisure Centre renewal in Dunstable £1.596M (paragraph 43*)

b)      Flitwick Leisure Centre Redevelopment £3.037M (paragraph 43*)

c)      Woodside Link £1.101M (paragraph 49*)

d)      Fleet replacement programme £0.624M (paragraph 49*).

*Appendix A to the Executive report.

The decision was unanimous.