Issue - meetings

Report RES12174

The Executive considered a report on the current position in respect of capital expenditure and receipts following the 2^nd quarter of 2012/13 and seeking approval to a revised Capital Programme. It was noted that subject to approval of the changes proposed the Capital Programme for 2012/13 to 2015/16 would increase by £4,295k and the 2012/13 estimate by £1,459k. 

The Finance Director advised that most of the changes related to externally financed schemes as well as the rephasing of a number of schemes into later years.  The Chairman referred to the Bromley Mytime Investment Fund and its inclusion in the 2012/13 Capital Programme and asked for a report on its utilisation to be submitted at a later date.

RESOLVED that

1)  the report be noted including the rephasing of a total of £3.0m from 2012/13 into later years and approval be given to agree the revised Capital Programme;

2)  the following amendments to the Capital Programme be agreed:

i)  virements within the Education Capital Programme to allocate funding to individual schemes to match actual expenditure in 2012/13 (as set out in paragraph 3.2 of the report);

ii)  the addition of £1,590k in 2012/13 in respect of additional Basic Need grant support in 2012/13 to fund additional pupil places (as set out in paragraph 3.3 of the report);

iii)  the addition of £448k in respect of additional Short Breaks for Disabled Children capital funding in 2012/13 (as set out in paragraph 3.4 of the report);

iv)  the addition of £72k for costs relating to the acquisition of 95 High Street, Bromley, funded by a contribution from the Property Investment Fund (as detailed in paragraph 3.5 of the report);

v)  the addition of £625k in 2012/13 in respect of additional PCT funding for the Learning Disability Reprovision Programme (as detailed in paragraph 3.6 of the report);

vi)  a reduction of £9k in 2012/13 to the Town Centre budgets funded by the Outer London Fund (as detailed in paragraph 3.7 of the report);

vii)  the addition of £574k in respect of the Bromley MyTime Investment Fund budget for 2012/13 (as detailed in paragraph 3.8 of the report);

viii)  the addition of £1,267k to reflect revised grant contributions from Transport for London towards the cost of  various highways schemes (as detailed in paragraph 3.9 of the report); and

ix)  the reduction of £68k per annum (£272k over the 4 year period 2012/13 to 2015/16) to reflect the reduced revenue contribution to Disabled Facilities Grants (as detailed in paragraph 3.10 of the report).