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.