Decision details

A detailed review has been undertaken of the Capital Programme at the end of the 1st quarter of the 16/17 financial year. As a result, some schemes are required to be re-profiled in order to better reflect the anticipated Capital expenditure during the remainder of the year.

1.            That the Cabinet Member for Finance and Corporate Services approved the £94.65m reprofiling of capital expenditure budgets, £12.62m income budgets and capital receipts budget of £86m (reduced to £83m) from 2016/17 into 2017/18.

2.         That the Cabinet Member for Finance and Corporate Services approved the additional £1.55m new budget for 2016/17 for the three named projects and the £0.50m capital receipt

Reasons for Decision 

The reprofiling 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 of the report, this expenditure is now expected to take place in 2017/18.  Approval is required to reprofile this budget to 2017/18.