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 2021/22 at Quarter 2.

The report of the Director of Function (Resources)/Section 151 Officer setting out the Capital Budget Monitoring – Quarter 2, 2021/22 report was presented for the Executive’s consideration.

The Portfolio Member for Finance reported that a capital budget for 2021/22 was set at £56.947m as is shown in Table 2.1 of the report.  The profiled budget spent to the end of the second quarter for general fund is 95%.  However, 25% of the annual budget has been spend to date totalling to £12.7m.  The reasons for this is that a number of the capital schemes are weighted towards the latter part of the financial year as was noted within the report.

The Director of Function (Resources)/Section 151 Officer reported that it is difficult to predict the capital budget monitoring for Q2 as schemes are dependent on grant funding for different projects. He referred to the HRA budget and noted that increase in building materials costs and the shortage of contractors can delay some projects.  He further said that it is hoped that the Capital Budget for 2022 will be approved earlier in the year so as to allow staff to carry out tendering procedures for projects.

Councillor Dafydd Roberts, Chair of the Finance Scrutiny Panel reported that the Panel in considering the report also expressed concerns to the shortage and costs of building materials and contractors to carry works. 

It was resolved to note the progress of expenditure and receipts against the capital budget 2021/22 at Quarter 2.