Agenda item

7.1

The report provides details of proposed changes to the existing Capital Programme relating to other committees, new additions in relation to Strategy and Resources Committee and one urgent new approval in relation to Education, Children & Families Committee as brought forward in Month 01 2020/21.

7.2

In addition, the report provides details of the changes to the capital programme required as part of the year end close down process requiring formal ratification

7.3

RESOLVED UNANIMOUSLY: That the Finance Sub-Committee:-

(i) approves the proposed additions and variations to the Capital Programme listed in Appendix 1;

(ii) approves the budget adjustments required as part of the financial year end close down procedure as detailed in Appendix 2

- Slippage of expenditure of projects in delivery from 21/22 to 22/23 - £29.1m

- Re-profiling of schemes not in delivery from 21/22 to 22/23 – £13.9m

- Accelerated expenditure of projects in delivery from 21/22 to 22/23 of £0.8m

- Overspends – net additions to the programme £3.1m

- Underspends - £6.6m

- Internal Adjustments (including reallocation of underspends) - £2.9m

(iii) approves the council entering into agreements to provide funding to 3rd parties as identified in Appendix 3

7.4

Reasons for Decision

7.4.1

The proposed changes to the Capital programme will improve the services to the people of Sheffield.

7.4.2

To formally record changes to the Capital Programme and gain Member approval for changes in line with Financial Regulations and to reset the capital programme in line with latest information.

7.5

Alternatives Considered and Rejected

7.5.1

A number of alternative courses of action are considered as part of the process undertaken by Officers before decisions are recommended to Members. The recommendations made to Members represent what Officers believe to be the best options available to the Council, in line with Council priorities, given the constraints on funding and the use to which funding is put within the Revenue Budget and the Capital Programme.

6.1

The report provides details of proposed changes to the existing Capital Programme relating to other committees, new additions in relation to Strategy and Resources Committee and one urgent new approval in relation to Education, Children & Families Committee as brought forward in Month 01 2020/21.

6.2

In addition, the report provides details of the changes to the capital programme required as part of the year end close down process requiring formal ratification

6.3

RESOLVED UNANIMOUSLY: That the Finance Sub-Committee:-

(i) approves the proposed additions and variations to the Capital Programme listed in Appendix 1;

(ii) approves the budget adjustments required as part of the financial year end close down procedure as detailed in Appendix 2

- Slippage of expenditure of projects in delivery from 21/22 to 22/23 - £29.1m

- Re-profiling of schemes not in delivery from 21/22 to 22/23 – £13.9m

- Accelerated expenditure of projects in delivery from 21/22 to 22/23 of £0.8m

- Overspends – net additions to the programme £3.1m

- Underspends - £6.6m

- Internal Adjustments (including reallocation of underspends) - £2.9m

(iii) approves the council entering into agreements to provide funding to 3rd parties as identified in Appendix 3

6.4

Reasons for Decision

6.4.1

The proposed changes to the Capital programme will improve the services to the people of Sheffield.

6.4.2

To formally record changes to the Capital Programme and gain Member approval for changes in line with Financial Regulations and to reset the capital programme in line with latest information.

6.5

Alternatives Considered and Rejected

6.5.1

A number of alternative courses of action are considered as part of the process undertaken by Officers before decisions are recommended to Members. The recommendations made to Members represent what Officers believe to be the best options available to the Council, in line with Council priorities, given the constraints on funding and the use to which funding is put within the Revenue Budget and the Capital Programme.