Purpose

Quarterly report

Decision

The Council’s Capital Programme for 2024/25 to 2027/28 was approved by Full Council in February 2024 as £666.264m. The programme was revised to £674.944m following additions agreed by Cabinet in July 2024. The programme was further revised to £686.589m by Cabinet in November 2024. This report set out the changes required in Quarter 3 bringing the programme to £687.780m.

The report recommended changes which have been recommended through the Council’s Gateway process:

·       Additions of £1.283m for new projects which are externally funded from grants and s.106.

·       Reductions of £0.053m, where a project has been completed and an expectation of a project underspend.

·       A reprofile of the programme to align with current project delivery plans, including a net £0.149m is recommended to be reprofiled from 2024-25 to future years.

·       Release of £37.505m for projects which are recommended to release existing budgets to projects which have come forward as part of the Capital Gateway Process as outlined by section 5 of the report.

Since Quarter 2 there had been a £0.089m budget removal through Leader Decision (Marlow Hill S106). Also, there had been £9.337m of budget releases which had been put through a Leader or Key decision.

RESOLVED that the recommended changes to the Capital Programme be APPROVED:

1. 1.      £1.283m of additions to the Capital Programme, which are funded from ringfenced grants and s.106.
2. 2.      £0.142m of removals due to completion, expected underspend or a transfer to revenue to fund operating costs.
3. 3.      The revised £687.780m Capital Programme, with £0.149m reprofiled from 2024/25 into future years.
4. 4.      The release of funding of £37.505m relating to the projects set out in section 5 of the report.