Meeting documents

APPENDIX 3

Council Overall Capital Budget Monitor

Financial Monitoring Statement: All Portfolios

CAPITAL SPENDING

ACTUAL TO DATE

YEAR END FORECAST

All Portfolio's For period to

Actual Spend or (Income)

Forecast Spend or (Income)

Over or (under) spend

Forecast Spend 2006/07

Capital Budget 2006/07

Planned Rephasing to later years

NOTE

Jun-06

£'000

£'000

£'000

£'000

£'000

£'000

Transport & Highways

583

583

6,730

6,730

1

Children's Services

1,827

2,759

(932)

11,037

11,037

Social Services

2,020

2,043

(23)

12,805

16,055

3,250

2

Economic Development

254

402

(148)

6,454

6,454

3/4

Resources

38

38

2,307

2,307

Leader

(22)

13

(35)

57

50

(7)

Tourism, Leisure & Culture

(1,422)

(1,643)

221

846

(220)

(1,066)

5/6

Community Safety and Housing Services

1,165

1,048

117

5,752

5,752

TOTAL

4,444

4,622

(178)

43,681

48,165

4,484

Rephased

Note: "ADV" indicates an adverse variance, "FAV" a favourable variance, and a "( )" in the over and under spend columns indicates an underspend or overachievement of income

Budget Reconciliation

The overall monitoring position for these services is

Budget per last report

45,524

that they are currently

£178,000

underspent

Virements

2,641

and by the end of this financial year the forecast

Current budget

48,165

OK

carry forward is

£4,484,000

Notes:

1. Budget profile to date has not been developed by service. To be addressed for July report. Various invoices have been paid against schemes thought to be completed in 2005/06, so no budget provision exists in 2006/07, resulting in overspend. In addition, project managers have identified additional costs to budget as a result of consultation / design changes. Further verification is being sought, but if this finding is correct, the management action will be reschedule projects to ensure the overall budget allocation is not exceeded.

2. Budget based on original estimated programme. Detailed programme now agreed

3. This is a Waste Infrastructure project and some realignment to current project plans is required.

4. Currently projecting to utilise all budget this year; however this includes some £440k as yet unallocated and is in contingency, but plan to allocate this during the year as the project progresses.

5. Many capital schemes will attract carry forward from 2005/06, to be actioned following approval in July.

6. An additional £800k funding was approved by the July 06 Council to fund the estimated additional costs due to the delayed hand-over of the Spa facility to the Operator after the certification of Practical Completion on 8th May 2006 whilst snags are cleared and legal issues are finalised. £190K of this was allocated to revenue and £610k to capital. The revenue allocation will be reviewed during the year to assess whether they are in fact Capital. Year End forecast currently showing £943k overspend - to be funded from £943k underspend carried forward from 2005/6, approved by PPB in July'06. N.B. £510k of expenditure managed in the Claims Project re the resolution of the Final Account is to be treated as Capital and is therefore also shown.