Issue - meetings

Councillor Russell Holland, the Deputy Leader of Council and Cabinet Member for Commercialisation, Education and Skills along with the Corporate Director of Finance and Assets submitted a joint report that presented the year-end monitoring position for the Council’s capital programme and some proposed changes to the programme.

Councillor Holland introduced the joint report as tabled and invited Members to comment as appropriate.

Resolved: (1) That the 2020/21 year end projected out-turn position as set out in Tables 1 & 2 and Appendices 1 and 2 be noted;

(2) That the amendments following to the current approved capital programme budgets as detailed at paragraph 3.2 of the joint report be approved:

(a) To reduce the IT infrastructure budget (line 7) budget by £29k to reflect revised

cost of the project;

(b) To reduce the William Morris Primary School budget (line 36) budget by £400k to

reflect revised cost of the project;

(c) To reduce the Regulatory & Statutory Services Case Management System budget

(line 167) budget by £3k to reflect revised cost of the project;

(d) To note that Mead Way (line 163) is currently forecasting an overspend of £475k,

and that officers are in contractual negotiations as well as reviewing other budgets to mitigate this position; and

(e) To remove the £3.5m capital contingency fund budget (line 3).

(3) That the following addition to the programme detailed at paragraph 3.4 be approved and it be noted that this further update to the Capital Programme can be accommodated within the approved capital financing revenue budget and prudential indicators as set out in the 2020/21 Budget approved by Council.

(a) That £585k of grant funding be allocated to improve cycling provision in the town

centre and Old Town.

The reasons for the decision and alternative options are as set out in the report to the meeting.