Decision details

Cabinet Member approval sought for re-profiling of the Capital Programme.

1.            That the Cabinet Member for Finance, Property and Corporate Services approved the £24.596m of expenditure “re-profiled” to 2017/18 and £2.070m “re-profiled” to 2018/19, and that gross £11.319m of under spending and £5.306m of overspend also be approved.

2.         That the Cabinet Member for Finance, Property and Corporate Services approved gross income of £7.848 to be “re-profiled” to future years and a net reduction due to under and overspends on income £1.317m in 2016/17 also be approved.

3.         That the Cabinet Member for Finance, Property and Corporate Services approved the net additional £1.139m new budget for 2017/18 for the GPH projects.

4.         That the Cabinet Member for Finance, Property and Corporate Services approved the net underachievement of capital receipts of £2.877m, as reported in Table 3 of the report.

5.         That the Cabinet Member for Finance, Property and Corporate Services approved the Housing Revenue Account £7.348m of expenditure “re-profiled” to 2017/18.

Reasons for Decision 

The “re-profiling” figure relates to projects that were committed or commenced in 2016/17 and thus had an approved budget.  Due to a variety of factors outlined in section 4, this expenditure is now expected to take place in 2017/18 or 2018/19.  Approval is required to “re-profile” this budget to 2017/18 and 2018/19.