Issue - meetings

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

It was resolved –

·        To note the draft outturn position of the Capital Programme 2018/19 that is subject to audit.

·        To approve the carry-forward £3.065m to 2019/20 for the underspend on the programme due to slippage. The funding for this will also carry-forward to 2019/20 as per paragraph 4.2 of Appendix A.

The report of the Head of Function (Resources)/Section 151 Officer setting out the financial performance of the capital budget for the 2018/19 financial year was presented for the Executive’s consideration.

The Portfolio Member for Finance reported that the budget for the General Fund was £46.521m with expenditure of only £21.650m incurred at 31 March, 2019 equating to 47% of the budget. This was due primarily to the large underspend against six large projects details of which are provided in paragraph 2.2 of the report; these did not progress as much as anticipated because of delays caused by various reasons and, in the case of the New Highway to Wylfa Newydd, because of the suspension of the project.  The funding for the projects will be carried forward to 2019/20 with no loss of resources to the Council.

The Head of Function (Resources)/Section 151 Officer confirmed that the result was in line with the projections in Quarters 2 and 3. With large capital projects unexpected delays do normally occur and it is not unusual to see expenditure on these types of projects slipping.

The Chair thanked the Finance Scrutiny Panel for its input also in terms of scrutinising this and other budget monitoring reports.

It was resolved –

•           To note the draft outturn position of the Capital Programme 2018/19 that is subject to audit.

•           To approve the carry-forward £3.065m to 2019/20 for the underspend on the programme due to slippage. The funding for this will also carry-forward to 2019/20 as per paragraph 4.2 of Appendix A.