Decision details

1.    To note the net increase in forecast capital expenditure of £4.9m for 2023/24. 

2.    To approve the updated four-year capital programme for 2023-2027 of £706.7m as detailed in Appendix 1.

3.    To approve £16.984m additional pre-financing with regards to Hammersmith Bridge stabilisation (£7.927m) and pre-restoration (£9.057m) works, funded from the General Fund borrowing. Much of this will be reclaimed from TfL and Government.

4.    To approve £0.5m additional budget with regards to Mund Street refurbishment costs, funded from the General Fund borrowing.

5.    To approve £0.54m additional budget for Avonmore predevelopment costs, funded from the General Fund borrowing.

6.    To note the potential risks regarding the General Fund Programme, as summarised in paragraphs 25-29.

7.    To note the potential risks regarding the Housing Capital Programme, as summarised in paragraphs 30-33.

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