Contents
Report 7 of the 15 May 01 meeting of the Finance, Planning and Best Value Committee and provides a provisional outturn for 2000-2001 capital expenditure & capital receipts.
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Capital expenditure programme 2000/01 4th quarter indicative outturn
Report: 7
Date: 15 May 2001
By: Treasurer and Commissioner
Summary
This paper provides a provisional outturn for 2000-2001 capital expenditure & capital receipts.
Members are invited to note:
- that 2000/1 capital expenditure exceeds budget by £1.5m;
- that capital receipts generated were £7.6m greater than budget;
- a full review will be provided to June's Committee.
A. Recommendations
The Committee is invited to note:
- the provisional outturn position of the 2000/1 Capital Expenditure Programme at £73.8m against a budget of £72.3m;
- the provisional level of capital receipts generated. £47.6m against a budget of £40.0m;
- that a full outturn review will be provided to the June Committee.
B. Supporting information
1. This paper shows provisional outturn expenditure for all categories of MPS Capital and compares them with the agreed annual budget.
2. The expenditure figures quoted are, at this stage, provisional only. Although the financial system is now closed for general end of year adjustments there are a small number of accounting journals to be processed before final closure. It is anticipated that the final expenditure outturn will not be significantly different from the provisional.
3. A full analysis of the final outturn at project level will be provided to the June meeting of the Committee
Provisional expenditure outturn
5. Table A below summarises the provisional outturn figures for each of the four main headings shown in detail in Appendix 1.
Table A
| Land & Buildings £m |
IT & Comms £m |
Transport £m |
Misc £m |
Total £m |
|
|---|---|---|---|---|---|
| Budget | 22.4 | 35.6 | 11.7 | 2.6 | 72.3 |
| Outturn | 20.7 | 39.1 | 11.9 | 2.2 | 73.8 |
| Difference | 1.7 | -3.5 | -0.2 | 0.4 | -1.5 |
6. The provisional expenditure outturn of £73.8m exceeds the budget of £72.3m by £1.5m (2.1 per cent). This represents a £0.3m reduction from the 3rd quarter forecast outturn of £74.1m.
Capital receipts
7. Provisional in year capital receipts in 2000/1 total £47.6m; this is £7.6m in excess of the target of £40.0m.
Review arrangements
8. A report on the final outturn figures and results of the outturn review of the capital expenditure programme will be submitted to this Committee at its next meeting.
C. Financial implications
The 2000/01 MPS capital expenditure programme has a provisional overspend of £1.5m. This overspend can be funded through the application of excess capital receipts generated in year.
D. Background papers
- MPS Finance Department Capital Budget Monitoring Files
E. Contact details
The author of this report is Bob Alexander.
For information contact:
MPA general: 020 7202 0202
Media enquiries: 020 7202 0217/18
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