Capital Programme 2010/11
Meeting: 31/05/2011 - Cabinet (Item 52)
Report of the Executive Member for the Corporate Resources Portfolio (Stephen Askew).
The Assistant Director of Finance presented the report which set out the out-turn position for the financial year 2010/11 that had just been completed, and the Capital Programme for the forthcoming year 2011/12.
The meanings of the three tables contained within the report were explained, and Appendix A of the report was highlighted which set out the schemes and the actual spend against the budget.
In response to a concern, Members were informed that all Capital Programme requests would have been through the Capital Working Group for approval. The Assistant Director of Finance explained that some projects were still work in progress and drew attention to the last column at Appendix A where a narrative detailing why a request to carry over funding was being made.
The Executive Member for Economic and Commercial Portfolio explained that his Portfolio had increased its capital spend by £3.5m which had brought in a revenue of over 10% to the Council. The ambition this year was to increase the revenue whilst still looking for further investment opportunities.
It was noted that the original estimate for capital receipts had been £250,000; however, some sales from 2009/10 had been delayed and the actual capital receipts in 2010/11 were £1,324,037 received from sales of land and property.
Councillor Williams felt that the Council should be looking at the infrastructure within small and medium villages and not just towns. The Executive Member for the Economic and Commercial Portfolio pointed out that making our villages more sustainable was something that was being looked at through the Council’s Asset Management Plan.
In response to a concern, it was agreed that the Assistant Director of Finance would email the capital spend reserve figures to the Cabinet Members for information.
It was agreed that the Council’s liquid assets should be safeguarded.
Members may wish to suggest alternative arrangements for amendments and associated financing of the 2010/11 Capital Programme.
The recommendation would ensure the Capital Programme for 2011/12 was amended along with the necessary funding.
RECOMMEND to Council that the final budget, outturn position and funding for 2010/11 and the budget and funding for the revised 2011/12 Capital Programme as detailed in Appendix A and B of the report be approved.