Decision details

Capital Programme Monitor & Budget Variations, 2024/25 (First Quarter)

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

This report reports the quarter 1 position to Cabinet and seeks revisions to the Capital Programme which require the approval of Cabinet in accordance with the Council’s financial regulations.

Decision:

  1. To note the overall forecast of £294.1m for 2024/25 capital expenditure which is a net decrease of £17.8m in comparison to the revised budget of £311.9m at 2023/24 outturn. 

 

  1. To approve the updated four-year capital programme for 2024-2028 of £639.1m, as detailed in Appendix 1. This is a net increase of £62.7m in comparison to the four-year programme of £576.4m approved at Full Council in February 2024.

 

  1. To approve an additional budget envelope of £8.68m for various General Fund capital schemes, funded from external grants and contributions (£8.375m), capital receipts (£0.257m) and revenue contributions (£0.048m), as detailed in paragraph 3 of the report. 

 

  1. To note the prudential indicators presented in Appendix 4, as per Prudential Code requirements.

 

Report author: Andre Mark

Publication date: 08/10/2024

Date of decision: 07/10/2024

Decided at meeting: 07/10/2024 - Cabinet

Effective from: 12/10/2024

Accompanying Documents: