Issue - meetings

Please find attached a corrected version of the report.

Report FSD18041

The Executive considered a report setting out the final outturn on capital expenditure and receipts for 2017/18.  Capital expenditure in the year was £40.3m, compared to the final approved budget of £51.6m, agreed in February resulting in a total net variation of Cr £11.3m.  For funding purposes, £3.5m slippage was assumed in the Quarter 3 capital monitoring report, so there was an overall variation of Cr £7.8m in the use of capital receipts and external and revenue contributions.

The report had been scrutinised by the Executive, Resources and Contracts PDS Committee on 17 May 2018.

RESOLVED that

(1) The report be noted.

(2) The following amendments to the Capital Programme for 2018/19 be approved:

a)  Increase of £15k to the 30 hours childcare IT scheme funded from the revenue grant underspend in 2017/18 as detailed in paragraph 3.2.1 of the report;

b)  Addition of £178k to the capital programme to reflect additional Disabled Facilities Grant received as detailed in paragraph 3.2.2 of the report;

c)  Addition of £116k to the Biggin Hill Memorial Museum scheme funded from revenue (£54k) and external contributions (£62k) as detailed in paragraph 3.2.3 of the report.

(3) It be noted that the Provisional Final Accounts 2017/18 report elsewhere on the agenda recommends that Council approves contributions of £2.6m to the Investment Fund and £2.3m to the Growth Fund.