Decision details

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

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

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

Decision:

1.    To note the net increase in forecast capital expenditure of £16.1m for 2023/24. 

 

2.    To approve the updated four-year capital programme for 2023-2027 of £662.2m as detailed in Appendix 1.

 

3.    To approve additional £3.2m budget for capital works on various schools’ sites, funded from schools’ capital grants, as detailed in paragraphs 12-14.

 

4.    To note the potential risks regarding the General Fund Programme, as summarised in paragraphs 23-28.

 

5.    To note the potential risks regarding the Housing Capital Programme, as summarised in paragraphs 29-33.

 

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

 

Report author: Andre Mark

Publication date: 16/01/2024

Date of decision: 15/01/2024

Decided at meeting: 15/01/2024 - Cabinet

Effective from: 20/01/2024

Accompanying Documents: