To consider and decide on the recommendations as set out in the attached report.
Decision:
RESOLVED –
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 –
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: