This report details the Quarter 1 (June 2018) monitoring position against the approved budget for the Revenue and Capital Spend, including the HRA, for the financial year end 2017/18.

It also includes information of the Council’s progress against its saving targets and a number of general financial health indicators.

DECISION

1.            To note the Council’s projected outturn position against General Fund, Dedicated Schools Budget and HRA budgets agreed for 2018-19, based on information as at the end of June as detailed in the Appendices to the report.

2.            To note the summary savings position.

In respect of the Housing Capital Pipeline Schemes (Section 6 in Appendix 1 to the report)

3.            To approve the allocation of a capital budget of £131.4million for the period 2018 – 2024 to cover total project costs for schemes in Phase 2 of the Housing Capital Pipeline Programme, as set out in Appendix 1 Annex 4 to the report.

4.            To authorise the Corporate Director (Place), after consultation with the Corporate Director (Governance), to agree to proceed to award contracts and enter into any agreements required to implement recommendation 3. if so required, subject to tenders being within the approved capital budgets and progress the Housing Capital Pipeline Programme.

5.            To authorise the Corporate Director (Place) to submit bids for grant funding to funding bodies pursuant to any future national or regional grant or investment programme(s) for which the Phase 2 and 3 projects may be eligible if they conform to and support the Council’s objectives and values.

6.            To authorise the Corporate Director (Place) to commission viability work and detailed design and consultancy work to enable the submission of planning applications for the Phase 3 sites to be identified for the Pipeline Programme.

7.            To approve a capital estimate of £1.5m to enable the implementation of recommendation 6.

8.            To authorise the Corporate Director (Place) and the Corporate Director of Resources, in line with the Council’s Contract Standing Orders, to incur any necessary pre-construction expenditure, including the appointment of consultants and expenditure on related fees and site enabling works, related to sites within the Phase 2 and 3 pipeline programme to facilitate the preparation of planning applications and Invitations to Tender.

9.            To authorise the Corporate Director (Place)  to grant leases and Wayleave Agreements to statutory service providers in connection with the Phase 2 and 3 sites on behalf of the Council in its capacity as landowner and where required, to remove any third party rights of way in accordance with the statutory process.

In respect of the new capital scheme proposals (Sections 5 & 7 in Appendix 1 to the report)

10.         To approve the proposed schemes set out in Annex 1 and the feasibility studies set out in Annex 2 of the attached budget monitoring report.

11.         To adopt Capital Budgets of £3.1m and £1.0m respectively for the “Community Hubs” and “Maximising Health Infrastructure: Island Medical Centre Projects as set out in Section 7 of the appended budget monitoring report.

Action by:

THE CORPORATE LEADERSHIP TEAM

(Chief Accountant (K. Miles)