Purpose

Report of the Cabinet Member for Finance &
Change providing information on any major changes in the General
Fund and Housing Revenue Account (HRA) capital programme for the
period 2023/24 to 2027/28

Decision

(i) 
Note the revised General Fund Capital Programme, which totals
£235.70M as detailed in paragraph 3.
(ii) 
Note the HRA Capital Programme is £255.70M as detailed in
paragraph 3.
(iii) 
Approve the virement of £0.11M in the Place programme in
2023/24, as detailed in paragraph 7 and Appendix 1.
(iv) 
Approve the addition and spend of £0.08M to the Place
programme in 2023/24 and 2024/26, as detailed in paragraph 8 and
Appendix 1.
(v) 
Approve slippage of £14.31M within the General Fund
programme, as detailed in paragraphs 9 to 11 and Appendix 3.
(vi) 
Approve slippage of £2.56M within the HRA programme, as
detailed in paragraphs 9 to 12 and Appendix 3.
(vii) 
Note that the overall forecast position for 2023/24 at quarter 3 is
£128.45M, resulting in a potential overspend of £1.52M,
as detailed in paragraphs 13 to 16 and Appendix 2.
(viii) 
Note that the capital programme remains fully funded up to 2027/28
based on the latest forecast of available resources although the
forecast can be subject to change; most notably regarding the value
and timing of anticipated capital receipts and the use of prudent
assumptions of future government grants to be received. It is also
important to note that in times of rising interest rates,
inflationary pressures and future budget shortfalls the capital
programme needs to be kept under review.