Agenda item

Capital Management Report: Quarter 2

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

Decision:

RESOLVED –

  1. That the actual gross and net expenditure for the year and the sources of finance, as shown in Appendices B to D to the report be noted;
  2. That the proposed variations to the 2019/20 Capital programme set out in paragraphs 4.3 to 4.8 of the report be approved;
  3. That the inclusion of new schemes to the Capital programme set out in notes 4.9 to 4.14 be noted; and
  4. The proposed movement between years set out in paragraph 4.15 to 4.19 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.

Minutes:

Jane Fineman, Head of Finance and Procurement introduced this Report that summarised the actual and forecast outturn expenditure on capital schemes to 30 September 2019 and included the following:

 

-       Cabinet had approved Capital Expenditure of £22.681m for 2019/20.

-       Since this approval, £1.244m of Projects had been rescheduled from 2018/19 to 2019/20. 

-       Approvals of £28,000 had been made in Quarter 1.  A further £1.7m of expenditure was requested in this Report for 2019/20. 

-       The Report also included the following allocations:

o   £769,000 for beam and concrete repairs to the Royal Victoria Place car park.

o   £520,000 for the purchase of Tonbridge and Malling Waste Bins and Food Caddies – to note, the entire cost would be recharged back to Tonbridge and Malling.

o   £200,000 to deliver interest free loans to lower income families and landlords to enhance energy efficiency in homes.  The loans would be repaid following the sale of the property.

o   £80,000 for CCTV to be installed in Crescent Road, Great Hall and Torrington Road car parks.  All of which were open 24 hours a day.

o   £56,000 for a new Crematorium Management software package.

-       The Report also requested that £4.8m be rescheduled from 2019/20 to 2020/21.

-       In addition the following proposed expenditure had been deferred:

o   £2.962m for the Crescent Road car park extension.

o   £1m for sports sites acquisitions.

o   £588,000 for the building of the Benhall Mill Depot.

o   £120,000 for the Assembly Hall Fire Escape.

o   £44,000 for the resurfacing of the West Station Coach car park

-       Also included in the Report was an additional £1.593m in the budget for 2021 that was approved by Cabinet for the Amelia Scott scheme.

-       The forecast outturn included  the Calverley Square project as the decision to stop the scheme was taken after 30 September 2019.   This would all be reversed out in the Quarter 3 Report.

-       Subject to approval, the total forecast capital spend for 2019/20 would be £20.866m.

 

RESOLVED –

  1. That the actual gross and net expenditure for the year and the sources of finance, as shown in Appendices B to D to the report be noted;
  2. That the proposed variations to the 2019/20 Capital programme set out in paragraphs 4.3 to 4.8 of the report be approved;
  3. That the inclusion of new schemes to the Capital programme set out in notes 4.9 to 4.14 be noted; and
  4. The proposed movement between years set out in paragraph 4.15 to 4.19 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.

Supporting documents: