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 2016/17 that is subject to audit.

·        To approve the carry forward of £4.677m to 2017/18 for the underspend on the programme due to slippage. The funding for this will carry forward to 2017/18.

The report of the Head of Function (Resources) and Section 151 Officer setting out draft outturn position of the Capital Programme for 2016/17 financial year was presented for the Executive’s consideration.

The Portfolio Member for Finance referred to the table as at paragraph 2.1 of the report which provides a summary of capital expenditure to 31 March, 2017. He reported that the budget for the General Fund was £38.665m with expenditure of £28.033m incurred at 31 March, 2017 which equates to 73% of the budget. The main reasons for the underspend was the large underspend against the budget for the 21st Century Schools, the Holyhead and Llangefni Strategic Infrastructure and the New Highways to Wylfa Newydd. Funding for these projects can also be carried forward to 2017/18. Details of all capital schemes’ expenditure against the budget is provided in Appendix B of the report. The proposal is for £4.677m to be carried forward in to 2017/18 as slippage for capital schemes that did not complete by the end of March, 2017.

The smallholdings programme of improvements was extended for an additional year. Taking into account the £1.281m deficit brought forward from 2015/16, total capital receipts of £2.854m at year end and expenditure of £1.226m, there is now a surplus of £0.307m. The net surplus from the sale of smallholdings and the improvement programme will be ring-fenced for future improvements to smallholdings.

With regard to capital receipts, overall, 2016/17 was a successful financial year with over £5m being received.

It was resolved –

·      To note the draft outturn position of the Capital Programme 2016/17

     that is subject to audit.

·      To approve the carry forward of £4.677m to 2017/18 for the underspend on the programme due to slippage. The funding for this will carry forward to 2017/18.