To consider the Capital Monitoring report for 2013/14 under the Authority’s agreed budget monitoring procedures.

The Council considered the submitted report setting out an overview of the Council’s approved Capital Investment Plan for quarter two. The report provided details of capital expenditure and funding for the year compared with the latest budget position reported to the Council in February and July 2013.

It was proposed by the Mayor and seconded by Councillor Thomas (D):

(i)        that Council note the latest position for the Council’s Capital expenditure and funding for 2013/14;

(ii)       that Council approve £0.515m to invest in energy saving measures in street lighting funded from prudential borrowing to be repaid from future savings in energy and maintenance costs;  and

(iii)      that Council approve the revisions to the Capital Investment Plan and its funding as outlined in paragraphs 4.7 of the submitted report.

On being put to the vote, the motion was declared carried.

To consider the Quarter 1 monitoring report in relation to the Capital Investment Plan Budget and to make any recommendations to the Council.

The Board noted a report which provided high level information on the Council’s capital expenditure and funding for 2013/2014 compared with the position as reported in July 2013.