Issue - meetings
Q4 Capital Monitoring Report
Meeting: 11/07/2022 - Corporate Policy and Resources Committee (Item 80)
80 Q4 Capital Monitoring Report 
PDF 243 KB
This report updates on the performance of the Council’s capital projects against the approved budget, as at 31 March 2022.
Additional documents:
- Appendix A - Summary Capital Outturn P12 Mar 2122, item 80
PDF 11 KB
- Appendix B - Detail Capital Outturn P12 Mar 2122, item 80
PDF 38 KB
Decision:
The committee:
1. Noted the current level of overspend on capital expenditure, for both the Council and the areas of responsibility for the Corporate Policy and Resources Committee, against its Capital Programme provision as at 31 March 2022.
2. Requested that the Development Sub-Committee review the request to increase the budget associated with the Oast House project, prior to making a recommendation to Council.
Minutes:
The increase in capital costs was discussed. It was stated that delays in developments were a significant reason for this, particularly in the context of high inflation, especially in the construction sector.
There was discussion about the costs relating to existing projects. It was suggested that the Development Sub-Committee be asked to review this information in detail.
The committee:
1. Noted the current level of overspend on capital expenditure, for both the Council and the areas of responsibility for the Corporate Policy and Resources Committee, against its Capital Programme provision as at 31 March 2022.
2. Requested that the Development Sub-Committee review the request to increase the budget associated with the Oast House project, prior to making a recommendation to Council.