Issue - meetings

CAPITAL PROGRAMME MONITORING - 3RD QUARTER 2016/17 & ANNUAL CAPITAL REVIEW 2017 TO 2021

 

 

Meeting: 15/03/2017 - Children, Education and Families Budget Sub-Committee (Item 57)

57 CAPITAL PROGRAMME MONITORING - 3RD QUARTER 2016/17 & ANNUAL CAPITAL REVIEW 2017 TO 2021 pdf icon PDF 173 KB

Additional documents:

Minutes:

Report FSD17026

 

On 8th February 2017, the Executive received a report summarising the current position on capital expenditure and receipts following the 3rd quarter of 2016/17.  The report also presented for approval the new capital schemes in the annual capital review process. The Executive agreed a revised Capital Programme for the five year period 2016/17 to 2020/21. The Education Budget Sub-Committee considered a report highlighting the changes agreed by the Executive in respect of the Capital Programme for the Education Portfolio.

 

The changes to the Education Portfolio approved by the Executive in February included:

 

Formula Devolved Capital (£446,000 net reduction):

 

The Formula Devolved Capital scheme was funded by a grant from the Department for Education, which was passed straight on to Council maintained schools. The grant had reduced as schools converted to academy status.  Members agreed a total reduction of £446,000 to reflect the revised funding.

 

Basic Need Programme (£6,896,000 increase in 2018/19):

 

In the Basic Need Capital Programme Report approved by the Executive on 23rd March 2016, main works at Castlecombe Primary School were included as a Project in Delivery (Unfunded).  The Council had now received additional Basic Need Capital Grant for the period 2018-19 of £6,896,000 from the DfE and was now in a position to fund these works.  Members had agreed the addition of this amount to the Basic Need capital scheme, and noted that an updated Basic Need Capital Programme was due to be reported to the next meeting of the Executive.

 

Schemes rephased from 2016/17 into 2017/18:

 

As part of the 3rd quarter monitoring exercise, a total of £2,433,000 had been rephased from 2016/17 into 2017/18 to reflect revised estimates of when expenditure on Education schemes was likely to be incurred. This had no overall impact on the total approved estimate for the capital programme. 

 

RESOLVED:  That the Portfolio Holder be recommended to confirm the changes agreed by Executive on 8th February 2017.