Purpose

Quarterly report

Content

The Capital Programme for
2023-24 to 2026-27 was approved by Full Council in February 2023,
with an expenditure budget of £505.9m. The programme was
revised to £556.8m following additions agreed by Cabinet in
July 2023. The Council often received ringfenced funding in-year
from Government and Developers which were added to the programme in
a supplementary budget change. Additionally, the programme was
reviewed quarterly to check that the profiled spend remained
realistic. The report set out the recommended additions and
reprofiling for Quarter 2, and also
recommended 3 projects to be reduced or removed from the programme.
These budget changes would ensure the programme remained realistic
and deliverable, and released budget for
reinvestment. The recommended changes would increase the 4-year
Capital Programme to £582.6m by 2026- 27 and would reduce the
2023-24 current year budget from £149.3m to
£124.6m.
 
RESOLVED that the following Budget adjustments to the Capital
Programme be approved:
 
1.
Addition of £5.908m to the programme for new externally
funded ringfenced grants and S106 developer
contributions.
2.
Addition of £2.338m to the programme funded from Corporate
Resources, to fund inflationary pressures or new spend on existing,
priority projects.
3.
Removal of £0.460m for projects which have completed or are
no longer proceeding.
4.
Reprofile of £24.335m from the current year into future
years.