Issue - meetings

Report FSD15046

Following the first quarter, 2015/16, Report FSD15046 outlined the current position on capital expenditure and receipts.

RESOLVED that:

(1)  Report FSD15046 be noted, including a re-phasing of £2,123k from 2014/15 into 2015/16 and £9,049k from 2015/16 into 2016/17 (see paragraph 3.3.11 of Report FSD15046);

(2)  the revised Capital Programme be agreed with the following amendments to the Programme approved:

·  addition of £638k in 2015/16 regarding annual revenue contributions to the Bromley Mytime Investment Fund (see para 3.3.1 of Report FSD15046);

·  addition of £289k in 2015/16 for Gosshill Road, Chislehurst – Private Street Works, funded by S106 receipts at £209k and Transport for London funding at £80k (see paragraph 3.3.2 of Report FSD15046);

·  addition of £130k in 2015/16 for Orpington Railway Station, funded by S106 receipts at £80k and Transport for London funding at £50k (see paragraph 3.3.3 of Report FSD15046);

·  addition of £18k regarding Autism Capital grant received from Department of Health (see paragraph 3.3.4 of Report FSD15046); 

·  addition of £18k in 2015/16 to the Churchill Theatre and Central Library Chiller scheme to reflect the additional contract cost (see paragraph 3.3.5 of Report FSD15046);

·  a net reduction of £156k over four years, 2015/16 to 2018/19, in respect of reduced Schools Formula Devolved Capital Grant support (see paragraph 3.3.6 of Report FSD15046);

·  a reduction of £220k in 2015/16 to reflect revised grant support from Transport for London for highway schemes (see paragraph 3.3.7 of Report FSD15046);

·  transfer (virement) of £43k from the Financial Systems Upgrade budget to the budget for Rollout of Windows 7 (see paragraph 3.3.8 of Report FSD15046);  

·  in regard to section 106 receipts from developers, a net increase of £2,827k (£2,760k in 15/16 and £67k in 16/17) to reflect funding available and the remaining unallocated balance (see paragraph 3.3.10 of Report FSD15046); and

(3)  Council be recommended to approve inclusion of the £5.7m Housing Zone Bid related to Site G (Executive 24/03/15) into the Capital Programme (see paragraph 3.3.9 of Report FSD15046).