Issue - meetings

To note the level of capital expenditure for the period April to September 2016.

The Committee received the Capital Monitoring report covering the period April to September 2016.

The Principal Accountant advised that for the period ending September 2016, capital expenditure including commitments was £383.527m (87.54%) of the revised budget (excluding the Knowle Green project and £1.1m of the Housing opportunity project).

The projected outturn showed that we were anticipating to spend £405.161m which represented (92.48%) of the revised budget. He explained that £8.1m of the £8.2m that had been allocated for the Housing, and Knowle Green relocation, projects may not be spent in the current financial year. This was due to the delay in the decision to move the Council offices away from Knowle Green and not having spent all the allocated funds for the Council to purchase property for housing opportunities.  He confirmed that the under spends were being monitored and if not completed would be carried forward at year end. 

Resolved to note the current capital spend position.

Cllr Williams

To note the current Capital spend position.

Cabinet considered a report on capital expenditure covering the period April to July 2016.

RESOLVED that Cabinet notes the current level of capital spend.