Decision details

To note the forecast capital outturn position for Q3, and to approve amendments to the capital programme

RESOLVED:

1.  That  the general fund capital programme for the period 2014/15 to 2023/24 as at Quarter 3 2014/15, as detailed in Appendices A and D of the report, be noted.

2.  That the housing investment programme for the period 2014/15 to 2021/22 as at Quarter 3 2014/15, as detailed in Appendix B of the report, be noted.

3.  That the variation to the housing investment programme of £63.1m including £54m for housing direct delivery programme be approved, details of which are reflected in the departmental narratives and Appendix C of the report.

4.  That the variation to the general fund capital programme of £75.9m be approved, including £44.4m for children’s services and £21m for the acquisition of properties in order to progress regeneration projects. Details are reflected in the departmental narratives and Appendix C of the report.

5.  That the virements and variations (including those mentioned in recommendations 3 and 4) to the general fund and housing investment capital programme be approved as detailed in Appendix C of the report.

6.  That the re-profiling of the budgets in line with projected expenditure for 2014/15 and future years for both the general fund and housing investment programmes be approved as detailed in Appendices A, B and D and the resources available for the capital programme based on latest information available at Quarter 3 2014/15 be noted.

7.  That the use of new home bonus (NHB) in funding the capital programme as previously agreed by cabinet on 21 June 2011 has now been committed to the revenue budgets as per the policy and resources strategy 2015/16 to 2017/18 revenue budget report of 27 January 2015 be noted and that this resource will not be available in the following years to fund capital expenditure.