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 2022/23 at quarter 1.

·           To approve a reallocation of £0.140m from the match funding in relation to Traeth Coch to small scale schemes to cover the expected increase cost, as noted in 3.1.1 of the report.

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

The Director of Function (Resources)/Section 151 Officer reported that the Capital Budget for 2022/2023 was £48.7m.  He noted that it was anticipated that by the end of the Quarter 1 a total of £6.6m would have been spent.  There are a number of Capital Grant schemes in the Capital Programme for 2022/2023 which are underway and progressing (these were highlighted within the report).  He further said that there is a forecast underspend on the Capital Programme of £4.176m.  The forecast underspend relates mainly to flood allevation schemes and the planned maintenance, environmental works and energy efficiency schemes within the HRA, which is explained in the HRA Q1 budget monitoring report under a separate item on the Agenda.   The Director of Function (Resources)/Section 151 Officer further said that there is a requirement to reallocate £0.140m from the match funding in relation to Traeth Coch flooding scheme to the small scale scheme to cover the expected increase costs.

It was RESOLVED:-

·           To note the progress of expenditure and receipts against the

capital budget 2022/23 at quarter 1.

·           To approve a reallocation of £0.140m from the match funding in relation to Traeth Coch to small scale schemes to cover the expected increase cost, as noted in 3.1.1 of the report.