Issue - meetings

Capital and Balance Sheet Monitoring Report Q1

Meeting: 13/09/2023 - Executive Cabinet (Item 21)

21 Capital and Balance Sheet Monitoring Report Q1 pdf icon PDF 145 KB

To receive and consider the report of the Director of Finance.

Additional documents:

Decision:

1.    To approve the revised capital programme as attached at Appendix A, which includes an amendment to the programme of £5.684m, as detailed at point 11 of this report.

2.    To note the variations to the programme (which are detailed by scheme at Appendix B and referenced within the body of the report);

3.    To note the position in the Balance Sheet monitoring section of the report, in respect of cash, investment and loan balances and debtors, at 31st July 2023.

Minutes:

Councillor Peter Wilson, Executive Member for Resources presented the report of the Director of Finance which outlines the outturn financial position of the Council in respect of the capital programme at 31 July 2023, highlighting key issues and explaining key variances, and to provide an overview of various elements of the Council’s Balance Sheet at 31 July 2023.

 

The capital budget for 2023/24 was set at £21.103m at Council in February 2023. This was increased following approval of the 2022/23 outturn to £22.998m. Members noted the total cost of the Council’s capital investment programme for 2023/24 has decreased since the 2022/23 outturn report approved by Executive Cabinet, from £22.998m to £18.191m as at 31st July 2023. Budgets variations approved since the last monitoring report have resulted in a total increase of £5.580m to the capital programme.

 

Decision:

1.    To approve the revised capital programme as attached at Appendix A, which includes an amendment to the programme of £5.684m, as detailed at point 11 of this report.

2.    To note the variations to the programme (which are detailed by scheme at Appendix B and referenced within the body of the report);

3.    To note the position in the Balance Sheet monitoring section of the report, in respect of cash, investment and loan balances and debtors, at 31st July 2023.

 

Reasons for recommendations:

To ensure the Council’s Capital Programme is monitored effectively.

 

Other options considered and rejected:

None.