Issue - meetings

The Deputy Leader of the Council and Cabinet Member and Member for Finance and Human Resources  submitted a report providing details of:

§  The capital outturn figures in respect of the last financial year 2015/16;

§  Major variances between the Revised Estimate and the Outturn;

§  The financing of the Capital Programme in 2015/16;

§  Re-profile of budgets/allocations and slippage of funding into 2016/17;

§  Details of the capital receipts realised during the year.

During discussion of this item Members highlighted the value of re-profiled schemes. The Executive Interim Director explained that slight variation and movement was normal and referred to the fact that the Capital Programme was a 3 year Programme.

It was agreed:

1. That the final capital outturn for 2015/2016, and explanations for major variances (as detailed in Appendix A of the report submitted) be noted.

2.   That the financing of the Capital Programme in 2015/16 (as detailed in paragraph 3.5 of the report) be noted.

The Deputy Leader of the Council and Cabinet Member (Member for Finance for Finance and Housing) submitted a report providing details of:

·                    The capital outturn figures in respect of the last financial year 2015/16;

·                    Major variances between the Revised Estimate and the Outturn;

·                    The financing of the Capital Programme in 2015/16;

·                    Re-profile of budgets/allocations and slippage of funding into   2016/17;

·                    Details of the capital receipts realised during the year.

Delegated decisions:

1. That the final capital outturn for 2015/2016, and explanations for major variances (as detailed in Appendix A of the report submitted) be noted.

2. That the financing of the Capital Programme in 2015/16 (as detailed in paragraph 3.5 of the report) be noted.

3. That approval be given to requests for re-profiling (£1.321m) and slippage (£15.694m) into 2016/17, along with the associated funding (as detailed in Appendix A).

Reason for the decision:

The presentation of an annual report on the Capital Outturn is a requirement of the Council’s Financial Regulations, as part of the Council’s Financial Procedure Rules.

Other option considered and rejected:

To reject or amend the recommendations.