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The report presented the capital
expenditure and associated capital funding as at the end of Quarter
1 (June 2023). The report and appendices detailed the changes to
the original capital programme and funding plans,
as a result
of programme
commitments and project delivery.
 
The current
approved capital budget is £95.304m (which includes the
approved re-phasing of budgets from 2022/23) and the forecast
outturn is £78.922m. A summary of forecast variances and
re-phasing was shown in Table 1 and detailed explanations for key
variances in Section 3.4.
 
A summary of
progress against key projects for which no variances had been
identified was detailed within Section 3.5.
 
 A forecast of the resources available to fund the
capital programme and variances of the current forecast against the
available resources budgeted were set out in Section 4 of the
report.
 
DECISION TAKEN:
Cabinet noted the capital
forecast outturn position as shown in Table 1.
 
Cabinet approved the virements
set out in Section 3.4.2. Cabinet noted the forecast position as
at 30 June 2023 for funding of the
capital programme and reserve balances as reflected in Table
2.