Decision Maker: Cabinet

Outcome: For Determination

Is Key Decision?: No

Is Callable In?: Yes

Date of Decision: November 19, 2024

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).