Issue - meetings

2018/19 Capital Budget Monitoring Report - Quarter 1

Meeting: 17/09/2018 - The Executive (Item 9)

9 Capital Budget Monitoring Report - Quarter 1, 2018/19 pdf icon PDF 435 KB

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

Additional documents:

Decision:

It was resolved to note the progress of expenditure and receipts against the capital budget for 2018/19 at Quarter 1.

Minutes:

The report of the Head of Function (Resources)/Section 151 Officer outlining the performance of the Capital Budget for the first quarter of the 2018/19 financial year was presented for the Executive’s consideration.

 

The Portfolio Member for Finance reported that Table 2.1 of the report provides a summary of the capital expenditure to 30 June, 2018 (£3.198m), the profiled budget to 30 June, 2018m (£4.192m) and how the annual capital budget (£58.853m) is to be funded. The profiled budget spent to the end of Quarter 1 for the general fund is 75% whilst only 5% of the annual budget has been spent to date due in the main to a number of capital schemes being weighted towards the latter part of the financial year. Table 3.2 shows the position with regard to capital receipts with only £270k being received at 30 June, 2018 against a projected capital receipts of £3.046m. Table 4.1 of the report shows the projected actual expenditure for 2018/19 as a whole.

 

The Head of Function (Resources)/Section 151 Officer said that the forecast underspend on the Capital Programme for 2018/18 is £22.594m with this being potential slippage into the 2019/20 Capital Programme. The funding for this slippage will also slip into 2019/20 and will be factored in when producing the Treasury Management Strategy Statement and Capital Programme for 2019/20. The main projects that are forecast to be underspent are listed in Section 4.2 of the report and encompass three major projects (Gypsy and Travellers site, Improvements to the A5025 to Wylfa Newydd and the 21st Century Schools Llangefni New Build). The funding for these will be carried over into 2019/20 and it is not anticipated at this point that any funding will be lost because of the delays.

 

It was resolved to note the progress of expenditure and receipts against the capital budget for 2018/19 at Quarter 1.