This meeting was to consider the re-phasing of the Capital Programme budgets for 2023/24 into the capital programme budget for 2024/25. The meeting considered whether to approve the re-phasing of unspent capital from the 2023/24 General Fund and Housing Revenue Account capital programme budgets.

Rephasing of unspent capital from the 2023/24 General Fund and Housing Revenue Account budgets

A report was included for discussion about the capital programme outturn for 2023/24.

The report explained that:

The Financial Regulations approved by Borough Council in May 2021, as amended, delegates the re-phasing of the capital programme to the Executive Director of Finance and Resources, at block 12 of the Schedule of Financial Authority to Officers.

The report recommended:

That the Executive Director of Finance and Resources authorises the re-phasing of £33.5m of the unspent General Fund capital programme budget from 2023/24 into the capital programme budget for 2024/25 and later years, and the re-phasing of £7.4m of the unspent HRA capital programme budget from 2023/24 into the capital programme budget for 2024/25 and later years as set out in Appendix A.

The report explained that the decision on the General Fund budget was a key decision in accordance with paragraph 12 of the Schedule to The Constitution of The London Borough of Hounslow ¹ because it was likely to result in the council incurring expenditure or making savings in excess of £1 million.

The report explained that:

If agreed the re-phased capital programme will be presented to Cabinet on 3 September 2024 in the Quarterly Financial Update report.