Meeting documents
Cabinet
Wednesday, 3rd March, 2004
11111
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Bath & North East Somerset Council |
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MEETING: |
COUNCIL EXECUTIVE |
AGENDA |
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MEETING DATE: |
3rd March 2004 |
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TITLE: |
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WARD: |
All DRAFT |
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AN OPEN PUBLIC ITEM |
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List of attachments to this report: |
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1 THE ISSUE
1.1 This report informs the Council Executive of the current position of the 2003/2004 Capital Programme and available resources.
2 RECOMMENDATION
2.1 That the Executive:
a) notes the current position of the 2003/2004 capital programme;
b) approves the adjustments to and incorporation of additional funding to the 2003/2004 programme as detailed in paragraph 4.1;
c) notes the current position of available resources.
3 FINANCIAL IMPLICATIONS
3.1 Included in the report.
4 2003/2004 CAPITAL PROGRAMME
4.1 At the 5th November meeting a revised capital programme of £37.9 million was approved. The following revisions have now been incorporated into the programme giving a revised total of £38.04 million:
· Education - A grant of £235,812 split over 2 years has been awarded by the Skills Council for an adult learning centre at Peasedown.
· Property - The compulsory purchase of Hampton Row was originally budgeted at £50,000. This has now been agreed at £89,500. The additional £39,500 has been allocated from the contingency for in-year approvals.
· Culture & Leisure - The budget of £8,000 for Arts Workshop has been transferred to revenue. Also £6,000 of s.106 funds for play areas has been transferred to revenue.
· Corporate - The Public Service Agreements budget has been reduced by £105,000. This sum is being carried forward to 2004/05. The Stone Mines budget has been increased by £100,000 from the major projects contingency.
4.2 Spend to the 31st December totalled £15.65million (£12.27million net of grant funded Stone Mines expenditure, or 83% of profiled spend). Profiled spend to 31st December, excluding grant funded Stone Mines expenditure, was £14.7million.
4.3 Details of the current programme are given in Appendix 1.
4.4 Details of profiled spend are given in Appendix 2. It is now estimated that total spending for 2003/04 will be around £29million, which will give a carry forward of £8.8million. Excluding the funds devolved directly to schools, the majority of the under spend consists of a few major projects i.e. Radstock Schools, Bath special schools, Elderly Peoples Homes and Western Riverside. Major projects such as these are typically difficult to plan and profile. The way in which major schemes are incorporated into the Financial Plan will be examined in the near future.
5 RESOURCES
5.1 Details of revised resources are as follows:
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2003/2004 |
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£,000's |
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Revised resource forecast Add: Additional funding (see paras.4.1) |
41,827 236 |
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Total forecast resources Less : 2003/04 Profiled Spend 2003/04 c/fwd funding Re-phased PSA & EPH funding |
42,063 29,198 8,844 1,817 |
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Surplus resources |
2,204 |
5.2 The table shows surplus resources of £2.2 million, which has been taken into account when reviewing the Financial Plan for 2004/05 and future years.
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Contact person |
Irene Draper (01225) 477325 |
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Background papers |
None |
APPENDIX 1 CAPITAL PROGRAMME 2003/2004
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Committee |
Approved Budget 2003/2004 |
Additions/ Reductions |
Revised Budget 2003/04 |
Forecast Spend to 31st Dec 2003 |
Actual Spend to 31st Dec 2003 |
% Actual Spend to Forecast Spend |
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£,000,s |
£,000's |
£,000's |
£,000's |
£,000's |
% |
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Education |
14,676 |
236 |
14,912 |
3,550 |
2,549 |
72% |
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Social Services |
2,579 |
2,579 |
1,027 |
490 |
48% |
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Transportation, Access & Waste Management |
8,033 |
8,033 |
4,400 |
4,643 |
105% |
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Property |
4,188 |
40 |
4,228 |
1,526 |
1,358 |
89% |
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Resources |
1,009 |
1,009 |
0 |
0 |
100% |
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Economic Development grant funded SRB |
239 |
239 |
109 |
93 190 |
85% n/a |
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Culture & Leisure |
344 |
-14 |
330 |
124 |
157 |
126% |
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Trading Services |
286 |
286 |
100 |
77 |
77% |
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Housing |
1,624 |
1,624 |
800 |
811 |
101% |
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Corporate Schemes |
3,538 |
-245 |
3,293 |
454 |
157 |
35% |
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Major Projects: |
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Spa Scheme |
159 |
159 |
2,231 |
1,436 |
n/a |
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Stone Mines |
77 |
100 |
177 |
77 |
94 |
122% |
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Western Riverside |
1,173 |
1,173 |
310 |
219 |
70% |
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TOTAL |
37,925 |
117 |
38,042 |
14,708 |
12,274 |
83% |
In addition to the above expenditure £3.37million has been spent on the Stone Mines which will be grant funded.
Spa scheme - The excess spending compared to the profiled budget shown in the table above will be offset by the remaining Millenium Commission grant of around £1million, and Operators lease premium of £3.2million, the release of which has been delayed but is now expected during 2004/05.