Purpose

Quarterly Capital Budget
Monitoring report for
financial year 2024/25

Content

Resolved:

 

Cabinet is asked to approve:

 

a)   
the virement from Early Years and Childcare (£0.021m) and
Schools Maintenance and Modernisation (£0.004m) to support
additional works required through Access and Inclusion;

 

b)   
the virement of £0.109m from Fleet Vehicles to Waste to
facilitate improved financial oversight of waste vehicle
purchases;

 

c)   
the removal of £1.370m grant funding from the HUG 2
programme as agreed with the Department of Energy Security and Net
Zero (DESNZ);

 

d)   
The grant income applied for and/or received as set out in
Appendix C and Appendix D.

 

Cabinet is asked to note:

 

e)   
The additional budgets added to the programme of £13.342m
under Chief Finance Officer delegated powers;

 

f)    
the removal of £1.370m budget under Chief Finance Officer
delegated powers;

 

g)   
the end of year 2023/24 budget adjustment of
£0.077m;

 

h)   
the budgets brought forward from future years into the 2024/25
programme totalling £4.886m under Chief Finance Officer
delegated powers;

 

i)     
the budgets reprogrammed from 2024/25 into future years
totalling £16.301m under Chief Finance Officer delegated
powers;

 

j)     
Budget Movements between Schemes as detailed in Appendix
A;

 

k)   
the revised 2024/25 Capital Programme forecast as at quarter two
of £226.355m;

 

l)     
the capital spend as of 30 June 2024
of £67.931m
 

m) 
the use of £0.300m of earmarked reserves to enable Adults
and Children’s Services to undertake a feasibility study of
potential sites for accommodation
 

 

Reason for Decision:

 

To inform effective decision making and ensure sound financial
management as part of the Councils overall control environment.

 

To inform Cabinet on the financial position of the Council on the
2024/25 capital programme as at quarter two (30 September
2024).