Agenda item

That the report be noted and that the revised 2020-21 budget as set out in Appendix C and D of the report be approved.

The Lead Member for Governance & Customer Services and the Service Lead Finance introduced a report that summarised spend against capital budgets for the 2019/20 financial year and sought approval of the re-profiled budget for 2020/21.

The programme included a range of major investment projects across the town including the secondary school expansion programme, purchase of properties though James Elliman Homes, the strategic acquisitions programme and a series of regeneration schemes such as the hotels and TVU developments.

The 2019/20 revised budget of £171,119 had all been spent and this represented 81% of the original budget.  The report was to the end of March 2020 and the impact of Covid-19 on projects was not fully known.  The Cabinet reviewed some of the schemes where funding had been re-profiled and the delays were explained, for example to the Tower & Ashbourne Houses scheme.

After due consideration, the report was noted and re-profiled budget for 2020/21 was approved.

Resolved –  That the report be noted and that the revised 2020-21 budget as set out in Appendix C and D of the report be approved.