Agenda item

Capital Outturn 2022-23 – Draft Outturn as at Period 9

Decision:

RESOLVED

That the Executive:

a. Noted the draft capital outturn position as at period 9 for the General Fund (GF) Capital Programme and Housing Revenue Account (HRA) Capital Programme for 2022/23.

b. Noted the new schemes that have been approved since 1^st April 2022.

Reasons for Recommendations:

· This is in line with the Council’s constitution and financial regulations in relation to governance.

Alternative Options Considered: This report is for noting and alternative options are not proposed.

Minutes:

The Chair invited Cllr Lyn Buckingham to speak. Cllr Buckingham noted the apparent lack of budget for works associated with waterways in North Northamptonshire and stated that many were in need of investment.

The Chair thanked Cllr Buckingham for her comments before inviting Cllr Anne Lee to address the Executive. Cllr Lee echoed comments regarding funding for waterways capital projects. Cllr Lee also raised concerns regarding ongoing works relating to the Alfred East Gallery and Museum (Cornerstone Project) in Kettering and extensive repairs required to the roof and lack of Wi-Fi functionality.

The Chair thanked Cllr Lee for her contribution before inviting the Executive Member for Finance and Transformation, Cllr Lloyd Bunday to introduce a report that set out the provisional capital outturn position for 2022/23 as at Period 9, including requests to rephase scheme expenditure profiles. The report also detailed the latest capital budgets for the General Fund and the Housing Revenue Account (HRA) Capital Programme, including new schemes which had been approved since 1^st April 2022.

In response to the queries raised by speakers, Cllr Bunday noted that there was a modest budget for waterways funding. Cllr Bunday also noted the issues at the Cornerstone Project and stated that funding would need to be identified for the roof repairs required.

Cllr Bunday reported that of the £63.8m estimated slippage/underspend to the General Fund Capital Programme, £43.8m of the underspend related to schemes that had been reviewed or reprofiled into the Capital Programme or Development Pool for 2023/24, resulting in a revised estimated variance as at Period 9 of £20m.

Details of schemes completed or in progress were highlighted to the meeting, with a focus on those with grant funding to ensure that any grant terms and conditions were met to minimise the potential risk of repayment and/or loss of grant.

The outturn for the HRA Capital Programme showed a revised budget for 2022/23 of £28.9m, including slippage from 2022/23 of £15.6m. There had been no further approvals since budget setting. The outturn was showing a spend of £11.8m, representing an underspend of £17.1m compared to budget which would be reviewed and reprofiled considering the latest position. A significant portion of the underspend related to delays in contractual arrangements.

Cllr Helen Howell, responding Cllr Lee, noted that Kettering Library was not included in the original scope of works for the Cornerstone Project and officers were working hard to address the issues raised with roof repair funding streams being explored.

Cllr Brackenbury and Lawman spoke to note that the Environment Agency and Anglian Water were the responsible bodies for the upkeep of waterways in North Northamptonshire.