Issue - meetings

Capital Budget Outturn 2018-2019 including Quarter One Capital Monitoring 2019-2020

Meeting: 10/07/2019 - Cabinet (Item 5)

5 Capital Budget Outturn 2018-2019 including Quarter One Capital Monitoring 2019-2020 pdf icon PDF 205 KB

Additional documents:

Decision:

Council is recommended to:

1. Approve the revised City of Wolverhampton Council Capital Strategy.

2. Approve the revised medium term General Revenue Account capital programme of £334.2 million, a reduction of £7.9 million from the previously approved programme and the change in associated resources.

3. Approve the revised Housing Revenue Account capital programme of £441.9 million, a reduction of £609,000 from the previously approved programme and the change in associated resources.

 

Cabinet resolved:

1. That the virements for the General Revenue Account capital programme be approved as detailed at Appendix 5 to the report for;

i. Existing projects totalling £11.1 million;

ii. New projects totalling £6.8 million.

2. That the virements for the Housing Revenue Account capital programme be approved as detailed at Appendix 5 to the report for:

i. Existing projects totalling £3.8 million.

3. That the General Revenue Account outturn position for 2018-2019 which stands at 76.1% of the approved capital budget be noted.

4. That the Housing Revenue Account outturn position for 2018-2019 which stands at 86.1% of the approved capital budget be noted.

 

Minutes:

Councillor Louise Miles presented the Capital Budget Outturn 2018-2019 including Quarter One Capital Monitoring 2019-2020 for approval and recommendation to Full Council. The report provided an update on the outturn position for 2018-2019 and on the 2019-2020 financial performance of the General Revenue Account and Housing Revenue Account (HRA) capital programmes whilst also providing a revised forecast for 2019-2020 to 2023-2024 as at quarter one of 2019-2020. Revisions to the current approved capital programmes covering the period 2019-2020 to 2023-2024 were also recommended.

 

Resolved:

 

Council is recommended to:

1. Approve the revised City of Wolverhampton Council Capital Strategy.

2. Approve the revised medium term General Revenue Account capital programme of £334.2 million, a reduction of £7.9 million from the previously approved programme and the change in associated resources.

3. Approve the revised Housing Revenue Account capital programme of £441.9 million, a reduction of £609,000 from the previously approved programme and the change in associated resources.

 

Cabinet resolved:

1. That the virements for the General Revenue Account capital programme be approved as detailed at Appendix 5 to the report for;

i. Existing projects totalling £11.1 million;

ii. New projects totalling £6.8 million.

2. That the virements for the Housing Revenue Account capital programme be approved as detailed at Appendix 5 to the report for:

i. Existing projects totalling £3.8 million.

3. That the General Revenue Account outturn position for 2018-2019 which stands at 76.1% of the approved capital budget be noted.

4. That the Housing Revenue Account outturn position for 2018-2019 which stands at 86.1% of the approved capital budget be noted.