Issue - meetings

To submit a report by the Director of Function (Resources)/Section 151 Officer.

It was resolved –

•           To note the progress of expenditure and receipts against the capital budget at Quarter 2 2019/20.

•           To approve the allocation of an extra £75,000 towards the Market Hall capital scheme as per paragraph 3.1.1 of the report.

•           To approve £90,000 of unsupported borrowing to upgrade the fitness equipment in Plas Arthur Leisure Centre as per paragraph 3.3.1 of the report.

•           To approve £20,000 of additional match funding for the Pentraeth Flood Alleviation scheme as per paragraph 3.1.2 of the report.

•           To approve £8,000 of additional match funding towards the 3G pitch at David Hughes Leisure Centre, as per paragraph 3.3.2 of the report.

The report of the Director of Function (Resources)/Section 151 Officer setting out the performance of the Capital Budget for the second quarter of the 2019/20 financial year was presented for the Executive’s consideration.

The Portfolio Member for Finance reported that to the end of the second quarter, for the general fund actual expenditure amounts to 120% of the profiled budget although only 22% of the annual budget has been spent to date. This is in keeping with the usual pattern whereby a number of the capital schemes are weighted towards the latter part of the financial year. Some capital schemes are well underway with the majority of the profiled budget for Quarter 2 being spent whilst others whose budget is profiled towards the latter part of the financial year have yet to commence. A number of schemes are funded through capital grants in 2019/20 and the report provides an update on the status of those schemes. Additional funding obligations for which the Executive’s approval is sought include the following –

•           The final account for the Market Hall renovations has been agreed with the contractor and has resulted in an additional funding requirement from the Council of £75k which would be funded from capital receipts.

•           The Pentraeth Flood Alleviation Scheme will require the Council to provide extra match funding of £20k (total match funding of £50k instead of £30k) to be funded from capital receipts.

•           The Council has succeeded in securing a £40k grant from Places for Sport to upgrade the fitness equipment at Plas Arthur Leisure Centre. The total cost of the scheme is £130k with the remaining £90k to be met by the Council which it is proposed be funded through unsupported borrowing.

•           The Council has also succeeded in securing a £72k grant from the Collaboration Fund to convert the tennis court at the David Hughes Leisure Centre into a 3G pitch. The total cost of the scheme is £80k with the Council needing to provide £8k of match funding which will be met from capital receipts.

It was resolved –

•                       To note the progress of expenditure and receipts against the capital budget at Quarter 2 2019/20.

•           To approve the allocation of an extra £75,000 towards the Market Hall capital scheme as per paragraph 3.1.1 of the report.

•                       To approve £90,000 of unsupported borrowing to upgrade the fitness equipment in Plas Arthur Leisure Centre as per paragraph 3.3.1 of the report.

•                       To approve £20,000 of additional match funding for the Pentraeth Flood Alleviation scheme as per paragraph 3.1.2 of the report.

•                       To approve £8,000 of additional match funding towards the 3G pitch at David Hughes Leisure Centre, as per paragraph 3.3.2 of the report.