The report of the Deputy Chief Executive and City Treasurer was to follow and is now enclosed.

The Council’s capital budget outturn for 2019/20 was presented. The total capital expenditure in 2019/20 for the council’s capital programme had been £203.3m. The outturn of capital expenditure for 2019/20 on behalf of Greater Manchester had been £52.2m.

A summary of each part of the programme was included within the report, giving details on the major projects in each of those parts. Also presented was a summary of the outturn position and any changes to the budget that were recommended. It was explained that the COVID-19 pandemic had created significant uncertainty across the capital programme and that it was expected to create cost pressures through higher prolongation costs, increases to material costs and skilled labour shortages. This scale of these impacts were to be presented to a future meeting.

The report set out the details of all the recommended virements to move the allocation of funds between different capital projects within the overall programme. The size of some of those virements was beyond the normal limits of the Executive’s powers and so the procedure put in place by the Council on 25 March 2020 had been used, to enable these changes to be made by the Executive without having to be approved by the Council.

A full schedule of the proposed virements was appended to the report, and all those were approved.

Decisions

1.         To approve the virements over £0.5m between capital schemes to maximise use of funding resources available to the City Council set out in the appendix to these minutes, noting this has been subject to approval by a Scrutiny Chair under the provision of the Council decision on 25 March 2020 (minute CC/20/26)

2.         To note the outturn of capital expenditure 2019/20 for the Manchester City Council Programme was £203.3m, and that the outturn of capital expenditure 2019/20 for the Programme on behalf of Greater Manchester was £52.2m.

3.         To note the changes to the outturn attributable to movement in the programme that occurred after the previous monitoring report in February 2020.

4.         To approve virements under £0.5m within the capital programme as set out in the appendix to these minutes.

5.         To note the decisions of the Deputy Chief Executive and City Treasurer regarding the funding of capital expenditure in 2019/20.