Issue - meetings

Report of the Chief Executive on capital expenditure and associated capital funding as at the end of quarter 2.

(1)   Cabinet noted the capital forecast outturn position as at Quarter 2 as shown in Table 1.

(2)   Cabinet noted the forecast position as at 30 September 2020 for funding of the capital programme and reserve balances as reflected in Table 2.

Report of the Chief Executive on the forecast of capital expenditure and associated capital funding for 2020/21 as at the end of Quarter 2.

The majority of the variances, explained in detail in the report, are due to the re-phasing of projects.

Whilst the impact of Covid led to some unavoidable delays on certain projects earlier in the year, these are now again making good progress. The Council have not had to make any budgetary cuts to the capital programme to date as a result of Covid.

Progress on individual schemes is set out in the report.  Initially it was feared that Covid-related delays to Affordable Housing capital schemes within the HRA might result in having to return Right to Buy receipts to HM Treasury, but this no longer looks likely for 2020/21.

RESOLVED:

(1)   Cabinet noted the capital forecast outturn position as at Quarter 2 as shown in Table 1.

(2)   Cabinet noted the forecast position as at 30 September 2020 for funding of the capital programme and reserve balances as reflected in Table 2.