Decision details

OVERALL REVISED CAPITAL PROGRAMME 2021/22

Decision Maker: Policy and Finance

Decision status: For Determination

Is Key decision?: No

Is subject to call in?: No

Decisions:

The Director of Resources submitted a report informing committee of the overall revised capital programme for 2021/22.

 

The original programme had been approved by Council in March 2021 and regular reports had been presented to all committees on progress with the schemes. There had been a number of further approvals and adjustments made during the year resulting in the total approved Capital Programme for 2021/22 of £3,453,420 over 31 schemes. The revised estimate for each of these schemes had been determined following discussion with budget holders regarding their progress and estimated full year expenditure.

 

The revised Capital Programme now stood at £1,761,370  which was a reduction of £1,692,050 from the previously approved capital programme and a reduction of 7 schemes. The main reasons for the budget changes were outlined in the report.

 

The report went on to outline how the capital programme had been financed with a summary of the movement on the capital earmarked reserve.

 

Earmarked reserves are used to fund £540,420 of the 2021/22 proposed revised capital programme, with the balance of the funding coming from usable capital receipts of £74,910, grants and contributions of £1,131,040 and borrowing of £15,000.

 

At the end of December 2021 £784,801 had been spent or committed on capital programme schemes. This equated to 44.6% of the full year proposed revised capital programme budget. Of the 23 schemes 3 had been completed; 18 were in progress and 2 were on-going demand-led Housing capital grant schemes. Progress on these schemes with variances were outlined in the report.

 

 Cllr R Newmark was given permission to speak on this item.

 

RESOLVED THAT COMMITTEE:

 

Approve the overall revised capital programme for 2021/22.

 

Report author: Averil Crowther

Publication date: 28/02/2022

Date of decision: 22/02/2022

Decided at meeting: 22/02/2022 - Policy and Finance

Accompanying Documents: