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 October 2020.

Cabinet NOTED the financial position on the Capital Programme to 31 October 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 October 2020.

Mrs. Garton advised that a detailed position for each project was detailed within the appendices and summarised at paragraph 5.1 of the report.  It was anticipated that 2 projects within general expenses would be delayed until 2021/21.  These would be dealt with as part of the Capital Programme 2021/22 process, which had started.

Mrs. Garton highlighted a forecast underspend on the HRA (largely due to the impact of Covid-19 and the lack of stock condition information).  The schemes particularly impacted were detailed in the report and Members should note that there may be further delays.

Councillor Ronnie de Burle, Portfolio Holder for Corporate Finance and Resources advised that the Council’s General Fund contained a modest programme of works.  The key area of capital spend was the HRA and it was disappointing that Covid-19 had hindered delivery of the programme of works.  Progress had been made on stock condition surveying and the housing database, which would enable more accurate reporting on progress in the future.

During discussion the following points were noted:

• Members noted the forecasted underspend of £90k on the General Expenses and the anticipated delay in delivery of the Lake Terrace and Rural Pub Relief projects, which would likely be completed in 2021/22.

Cabinet NOTED the financial position on the Capital Programme to 31 October 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.