9 CAPITAL PROGRAMME 2019/20 - END OF AUGUST REVIEW PDF 125 KB
Additional documents:
Decision:
To accept the report
on the end of August 2019 review of the capital programme, and approve the
revised financing worth £17.85 million, namely:
Use of £8.304 million of
various sources to fund actual slippages from 2018/19
Increase of
£5.936
million in the use of borrowing
£3.411
million in the use of grants and contributions
£82k in the use of capital receipts
£154k in the use of renewal funds and others
Reduction of £37k in the use
of revenue contributions
Minutes:
Presented by Cllr
Ioan Thomas
DECISION
To accept the report on the end of August
2019 review of the capital programme, and approve the revised financing worth £17.85 million, namely:
Use of £8.304 million
of various sources to fund actual slippages
from
2018/19
Increase of
£5.936 million
in the use of borrowing
£3.411 million
in the use of grants and contributions
£82k in the use of capital
receipts
£154k in the use of renewal
funds and others
Reduction of £37k in the use of revenue contributions
DISCUSSION
The report was submitted, noting that it presented the end of August review (position as at 31 August 2019) for the Council's capital programme as part of the procedure for reviewing the 2019/20 budget.
It was necessary
to ensure appropriate financing arrangements for the Council’s plans to spend on capital, and
the Cabinet was required to approve
the capital programme and its sources
of funding. The Council was
in a position to be able to invest £39.7million in capital in
2019/20, with 17.9million of it deriving
from grants
Although
incorporating funding via grant was a point of order, it was also necessary to deal with situations where there had been a change in
expenditure profiles between years and
a change in the value of capital receipts and contributions.