Issue - meetings

To consider and decide on the recommendations as set out in the associated report.

RESOLVED –

1.    That the actual gross and net expenditure for the year and the sources of finance as shown at Appendices B to D to the report be noted;

2.    That the proposed variations to the Capital programme set out in paragraphs 4.3 to 4.5 of the report be approved;

3.    That the proposed movement between years set out in paragraph 4.6 of the report be approved; and

4.    That the new Capital Applications detailed in Appendices G and H to the report be approved.

REASON FOR DECISION: Managing and forecasting capital expenditure effectively was vital in order to support all of the services provided by the Council.

Jane Fineman, Head of Finance, Procurement and Parking introduced the report as set out in the agenda.

RESOLVED –

1.    That the actual gross and net expenditure for the year and the sources of finance as shown at Appendices B to D to the report be noted;

2.    That the proposed variations to the Capital programme set out in paragraphs 4.3 to 4.5 of the report be approved;

3.    That the proposed movement between years set out in paragraph 4.6 of the report be approved; and

4.    That the new Capital Applications detailed in Appendices G and H to the report be approved.

REASON FOR DECISION: Managing and forecasting capital expenditure effectively was vital in order to support all of the services provided by the Council.

To consider and provide a recommendation to Cabinet on the proposals set out in the attached report.

Clare Hazard, Accountancy Manager introduced the report set out in the agenda.

Discussion and questions from Members included the following:

-       Appendix D provided a breakdown of the overall Capital Programme to 2024/25. 

-       The second table in Appendix D explained how the Capital Programme would be funded.

-       Approval had been given to use up to £3,348,000 from the Public Works Loan Board but as yet it had not been allocated.  It was therefore a potential source of funding rather than a Quarter 1 outturn. 

-       Of the £77k of S106 funding due to expire in 2021/22, £51k was included in the Capital Programme, the remaining amount had been allocated to two smaller schemes (not part of the Capital Programme) and it was expected the money would be spent this year. 

-       Details of the S106 money due to be allocated to Goudhurst (£3,000) would be reverted after the meeting. 

RESOLVED – That the recommendations to Cabinet as set out in the report be supported.