Issue - meetings

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

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.