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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 205 KB
Additional documents:
- Appendix 1 for Capital Budget Outturn 2018-2019 including Quarter One Capital Monitoring 2019-2020, item 5 PDF 457 KB
- Appendix 2 for Capital Budget Outturn 2018-2019 including Quarter One Capital Monitoring 2019-2020, item 5 PDF 408 KB
- Appendix 3 for Capital Budget Outturn 2018-2019 including Quarter One Capital Monitoring 2019-2020, item 5 PDF 266 KB
- Appendix 4 for Capital Budget Outturn 2018-2019 including Quarter One Capital Monitoring 2019-2020, item 5 PDF 260 KB
- Appendix 5 for Capital Budget Outturn 2018-2019 including Quarter One Capital Monitoring 2019-2020, item 5 PDF 288 KB
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.