Decision details

Capital programme monitor & budget variations, 2017/18 (third quarter)

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

This report provides a financial update on the Council’s Capital Programme and seeks approval for budget variations as at the end of the third quarter, 2017/18.

Decision:

1.        To approve the proposed budget variations to the capital programme totalling £22.8m (summarised in Table 1 and detailed in Appendix 2).

 

2.        To approve use of S106 contributions to fund £4.7m expenditure on Street Lighting (LED replacement) and Parking (phone payment and pay and display replacement) which would be otherwise funded from the Efficiency Project Reserve.

 

3.        To approve use of S106 contributions to fund £0.5m Parks 2017/18 rolling programme.

 

4.        To note the option to apply capital receipts under the new Flexible Use of Capital Receipts provisions to fund £7.1m of Invest to Save schemes (as identified in Appendix 5).

 

Report author: Andrew Lord

Publication date: 07/02/2018

Date of decision: 05/02/2018

Decided at meeting: 05/02/2018 - Cabinet

Effective from: 13/02/2018

Accompanying Documents: