Purpose

This report provides a financial update on the
council’s capital programme and requests approval for budget
variations to the capital programme.

Decision

1.   
To note the net increase in forecast capital expenditure of
£10.7m for 2023/24. 
 

2.   
To approve the updated four-year capital programme for 2023-2027 of
£653m as detailed in Appendix 1.
 

3.   
To approve £4,890,000 additional budget with regards to
Hammersmith Bridge stabilisation works, funded from General Fund
borrowing. 
 

4.   
To approve £3,389,000 additional budget for Clean Air
Neighbourhoods scheme, funded from Transport for London (TfL),
Section 106 and parking reserve contributions.
 

5.   
To approve £176,000 additional budget in relation to Business
Intelligence (BI) development work, funded from General Fund
borrowing.
 

6.   
To approve the additional budget in relation to the self-financing
schemes as noted in Appendix 4.
 

7.   
To note the potential risks regarding the General Fund Programme,
as summarised in paragraphs 18-23.
 

8.   
To note the potential risks regarding the Housing Capital
Programme, as summarised in paragraphs 24-28.
 

9.   
To note prudential indicators presented in Appendix 5, as per
Prudential Code requirements.