Issue - meetings

Report FSD16060

A revised Capital Programme was approved by the Executive in July, following final outturn figures for 2015/16 and a detailed monitoring exercise carried out after the 1^st quarter of 2016/17. The base position was the revised programme approved by the Executive on 10^th February 2016, as amended by variations approved at subsequent Executive meetings.  The revised Programme for the Education Portfolio was attached as Appendix A to the report. Appendix B to the report set out actual spend against budget in the first quarter of 2016/17, together with detailed comments on individual schemes with Appendix C including details of the final outturn for 2015/16.

As part of the savings required to balance the 2016/17 Schools Budget (DSG), agreed by the Portfolio Holder for Education, the Direct Revenue Financing for Schools Access Initiative had been ceased with the Executive approving a net reduction of £600,000 in the capital programme.  In July 2015, the Executive agreed that the Capital Programme budget should reflect the total of Section 106 receipts available to fund expenditure. In July 2016 the Executive agreed an increase of £215,000 in the Capital Programme budget for Section 106 to match the total funding available. The approved Section 106 budgets for the Education Capital Programme totalled £2,801,000 for the 2016/17 financial year.

The 2015/16 Capital Outturn was reported to the Executive on 15^th June 2016.  The final capital outturn for the year for Education Portfolio schemes was £29,727,000 compared to a revised budget of £31,925,000 approved by the Executive in February, an underspend of £2,198,000. This was mainly due to a £1,234,000 underspend on Glebe expansion works.  After allowing for minor adjustments, a total of £2,188,000 had been re-phased into 2016/17. Details of the 2015/16 outturn for this Portfolio were set out in Appendix C to the report.  As part of the 1^st quarter monitoring exercise, £18,169,000 had been re-phased from 2016/17 into 2017/18 to reflect revised estimates of when expenditure on the Education schemes was likely to be incurred.

RESOLVED: That the Portfolio Holder be recommended to note and confirm the changes agreed by the Executive on 20^th July 2016.