Decision details

Capital Programme Monitor & Budget Variations, 2023/24 (First Quarter)

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes


This report provides a financial update on the council’s capital programme and requests approval for budget variations to the capital programme.


1.    To note the net increase in forecast capital expenditure of £10.7m for 2023/24. 


2.    To approve the updated four-year capital programme for 2023-2027 of £653m as detailed in Appendix 1.


3.    To approve £4,890,000 additional budget with regards to Hammersmith Bridge stabilisation works, funded from General Fund borrowing. 


4.    To approve £3,389,000 additional budget for Clean Air Neighbourhoods scheme, funded from Transport for London (TfL), Section 106 and parking reserve contributions.


5.    To approve £176,000 additional budget in relation to Business Intelligence (BI) development work, funded from General Fund borrowing.


6.    To approve the additional budget in relation to the self-financing schemes as noted in Appendix 4.


7.    To note the potential risks regarding the General Fund Programme, as summarised in paragraphs 18-23.


8.    To note the potential risks regarding the Housing Capital Programme, as summarised in paragraphs 24-28.


9.    To note prudential indicators presented in Appendix 5, as per Prudential Code requirements.


Report author: Andre Mark

Publication date: 17/10/2023

Date of decision: 16/10/2023

Decided at meeting: 16/10/2023 - Cabinet

Effective from: 21/10/2023

Accompanying Documents: