Decision

RESOLVED that the Executive:

1)    noted the position of the capital programme at the end of Quarter 3 (to 31 December 2023) as summarised in the report below and set out in detail in Appendix A to the report;

2)    approved and noted the proposed carry forwards in the capital programme as set out in Appendix B of the report;

3)    noted that an additional budget of £8,987,586 had been agreed for Gorse Ride Redevelopment to cover additional inflationary costs (materials + labour) estimated over the project life (above original £106m budget). The Executive decision in February 2022 gave delegated authority to the Director of Resources and Assets, in consultation with the Executive Member for Housing and Finance, to approve the use of additional Affordable Housing s106 commuted sums as a contingency against cost and funding variations such as any future design changes and/or fluctuations in costs and values of up to 15% of the cost of the scheme in the event of any other financial impacts.

4)    approved additional capital budget of £2,920,000 for 2023/24 in relation to the secondary school expansion programme. This is an acceleration of budget previously set out in the Medium Term Financial Plan (MTFP) for use in 2024/25 and funded from DfE capital grants which have been received and available to use.

5)    approved a supplementary budget of £250,000 for Disabled Adaptations. This is funded in full, from the Housing Revenue Account non-RTB reserve.

6)    approved a supplementary budget of £93,862 for the Mandatory Disabled Facilities Grant (DFG) project. This is funded in full, from additional ringfenced grant awarded to the Council in the current financial year.