Council Capital Outturn & Rollover Report 2014-15 and Capital Investment Plan 2015/16 - 2019/20 Inclusive of Rollover
A report detailingthe Council’s capital expenditure and funding for the year 2014/15 and seeking approval of the Capital Investment Plan for referral to Council on 15th July 2015.
Officer: David Smith: 01484 221000
Decision:
(1) That £7 million uncommitted rollover be removed from the Capital Investment Plan as detailed in paragraph 3.10a of the report.
(2) That the £127,000 uncommitted balance of grant (school broadband) be applied against the capital elements of the Digital Infrastructure rollover bid (£444,000) being considered as part of the Revenue Outturn and Rollover report, as detailed in paragraph 3.10a of the report.
(3) That the potential liability for the Business Innovation and Skills grant repayment be transferred to Risks and Pressures, as detailed in paragraph 3.10a of the report.
(4) That £2 million of additional capital investment be included within the Strategic Asset Utilisation priority to meet cost pressures relating to clearance works at strategic sites, as detailed in paragraph 3.12 of the report.
(5) That a new strategic priority be established which provides match-funding for European Grant opportunities and that the priority be allocated £3 million over two years, as detailed in paragraph 3.12 of the report.
(6) That resources of £9 million be included within the Capital Investment Plan so that an option to offer a loan facility to Kirklees Stadium Development Ltd can be explored, as detailed on paragraph 3.14 of the report.
(7) That the updated Capital Investment Plan be approved and referred to the meeting of Council on 29 July 2015.
Minutes:
Cabinet received a report which detailed the Council’s capital expenditure and funding for the year 2014-2015, and explained the variances from the capital plan as approved by Council in July 2014. The report highlighted an underspend of £51.9m, which represented a 38% variance from budget.
Cabinet noted that the capital plan for 2014/2015, as revised by Council on 16 July 2014, totalled £126.7m and that following quarter three adjustments, the capital plan control total was £134.6m. Subsequent amendments, as set out at appendix 1, resulted in a total of £136.5m at the end of the financial year.
Appendix 2 to the report set out the capital plan outurn 2014-2015. An analysis of major variances from the updated capital plan was detailed in appendix three and appendix four set out information relating to prudential indicators.
RESOLVED -
(1) That £7 million uncommitted rollover be removed from the Capital Investment Plan as detailed in paragraph 3.10a of the report.
(2) That the £127,000 uncommitted balance of grant (school broadband) be applied against the capital elements of the Digital Infrastructure rollover bid (£444,000) being considered as part of the Revenue Outturn and Rollover report, as detailed in paragraph 3.10a of the report.
(3) That the potential liability for the Business Innovation and Skills grant repayment be transferred to Risks and Pressures, as detailed in paragraph 3.10a of the report.
(4) That £2 million of additional capital investment be included within the Strategic Asset Utilisation priority to meet cost pressures relating to clearance works at strategic sites, as detailed in paragraph 3.12 of the report.
(5) That a new strategic priority be established which provides match-funding for European Grant opportunities and that the priority be allocated £3 million over two years, as detailed in paragraph 3.12 of the report.
(6) That resources of £9 million be included within the Capital Investment Plan so that an option to offer a loan facility to Kirklees Stadium Development Ltd can be explored, as detailed on paragraph 3.14 of the report.
(7) That the updated Capital Investment Plan be approved and referred to the meeting of Council on 29 July 2015.