Issue - meetings

Consideration was given to report of the Chief Officer Resources.

The Chief Officer Resources presented the report which provided an overview of each Portfolio’s actual and forecast capital expenditure against funding approvals for the 2020/2021 financial year, as at 30^th September 2020.  The overall financial position as forecast at 30^th September, 2020 indicated an adverse variance of £24,000 against a total in year capital budget of £23.2m, and the Table highlighted at section 5.1.1 of the report provided an overall position across all Portfolios.

The Chief Officer reported that despite the Covid pandemic, actual expenditure to September 2020 of £7.3m was £836,000 higher, compared to quarter 2 in financial year 2019/2020, and it was expected that Capital Expenditure would largely be unaffected by the lockdowns and was estimated to reach £23.6m by 31st March, 2021.

The Chief Officer concluded that the forecast overspend of £24,000 in relation to Flood Recovery Works was expected to be mitigated following positive news that Welsh Government would provide financial support, and had advised the Council to commence any urgent works. However, whilst formal confirmation of this award was awaited it would be prudent to continue to report the overspend in quarter 2.

A Member referred to page 88 of the report, namely cemeteries investment programme, and asked when Members could expect the monies to be spent.

In response the Corporate Director Regeneration & Community Services confirmed that a report would be submitted to Community Services Scrutiny Committee in December. 

Another Member then referred to page 84 of the report and enquired as to the £60k spend on Ebbw Vale Town Centre, and the Chief Officer Resources undertook to investigate.

The Committee AGREED to recommend that the report be accepted and Members:-

·        Continue to provide appropriate challenge to the financial outcomes in the report; and

·        Note the budgetary control and monitoring procedures in place within the Capital Team, to safeguard Authority funding. (Option 1)