Purpose

To approve capital budget outturn 2025-2026 including quarter one capital monitoring 2026-2027.

Decision

That Council be recommended to approve:

1. The revised, medium term General Fund capital investment programme of £417.4 million, an increase of £818,000 from the previously approved programme, and the change in associated resources.
2. The medium term Housing Revenue Account (HRA) capital investment programme of £577.8 million, and the change in associated resources.

That Cabinet approved:

1. The virements for the General Fund capital investment programme detailed at Appendix 4 to the report for:

i.        existing projects totalling £11.0 million;

ii.       new project totalling £90,000.

1. The establishment of supplementary budgets, funded from grants and contributions for the General Fund capital investment programme detailed at Appendix 5 to the report for:

i.        existing projects totalling £4.3 million;

ii.       new projects totalling £1.6 million.

1. The virements for the HRA capital investment programme detailed at Appendix 4 to the report for:

i.        existing projects totalling £6.6 million.

That Cabinet noted:

1. Consistent with the Our Future Council Guiding Principles, that the capital investment programme (General Fund and HRA) would remain under constant review to identify opportunities to generate revenue budget savings. The outcome of this work would continue to be reported to Cabinet as part of the suite of quarterly financial monitoring reports.
2. That the Council continues to operate as usual, and reports subject to delegated authority may still progress during the period of preparing the report and it being considered by the Cabinet and Full Council. Where this situation arises, an update would be provided at the relevant meeting on any material changes to the information being presented.