Issue - meetings

The Portfolio Holder for Corporate Finance and Resources to submit a report providing a financial progress update on the Capital Programme for the period 1 April 2020 to 31 July 2020.

Cabinet NOTED the financial position on the Capital Programme to 31 July and year end forecast.

Dawn Garton, Director for Corporate Services introduced the report, the purpose of which was to provide a financial progress update on the Capital Programme for the period 1 April 2020 to 31 July 2020.

Mrs. Garton highlighted that the detailed position for each project (financed through the General Fund and the Housing Revenue Account) was detailed in Appendices A and B.  A summary was provided at paragraph 5.1 of the report.  It was anticipated that the spend at year end would be in line with the budget. 

Mrs. Garton advised that preparatory work had started on a number of projects.  However, as a result of capacity issues due to Covid-19, there was a risk that some projects may be delayed until next year.  A clearer position would emerge later in the year and a further report would be submitted to Cabinet.

During discussion the following points were noted:

·         Members had been in discussion with officers about projects within their individual portfolios, which may be delayed until next year (e.g. support for rural pubs, which had been due to launch in April 2020).

·         Projects were reviewed regularly and prioritised in line with the Council’s Corporate Priorities.

Cabinet NOTED the financial position on the Capital Programme to 31 July and year end forecast.

Reason for the decision

The Council, having set an agreed budget at the start of the financial year needs to ensure the delivery of this Budget is achieved.  Consequently, there is a requirement to regularly monitor progress so corrective action can be taken when required, which is enhanced with the regular reporting of the financial position.