Agenda item

That the report be noted with Capital Expenditure of £154.0m against an approved budget of £190.4m. This represents slippage on the approved budget of 19%.

The Service Lead, Finance introduced a report that updated on the spend against the capital budgets for the 2017-18 financial year.

The total revised capital budget for the year was £190m and of which £154m had been spent.  This was a slippage of 19% which was slightly higher than last year but much improved on historic levels.  The budget for schemes that had slipped but would be delivered would be carried forward into 2018-19.

Lead Members discussed the fact that the major investment in the town’s leisure facilities was due to be completed and each of the schemes for the ice arena, new leisure centre, Salt Hill Park Activity Centre and Langley Leisure Centre had broadly been delivered on time and budget.

The Cabinet noted the report.

Resolved –  That the report be noted with Capital Expenditure of £154.0m against an approved budget of £190.4m. This represents slippage on the approved budget of 19%.