Issue - meetings

To receive and consider the report of the Director of Finance.

1.    To approve the revised capital programme, attached at Appendix A, which includes an amendment to the programme of £6.754m, as detailed at point 11 of the report.

2.    To note the variations to the programme (which are detailed by scheme at Appendix B and referenced within the body of the report);

3.    To note the position in the Balance Sheet monitoring section of the report, in respect of cash, investment and loan balances, and debtors, at 31 December 2023.

Councillor Peter Wilson, Exectuvie Member for Resources, presented the report of the Director of Finance which set out to report the outturn financial position of the Council in resect of the capital programme at 31 December 2023, highlighting key issues and explaining key variances, and to provide an overview of various elements of the Council’s Balance Sheet at 31 December 2023.

It was highlighted that the Capital Budget for 2023/24 was set at £21.103m by Council in February 2023. Following approval of the 2022/23 outturn, this was increased to £22.998m, then amended further in the Quarter 1 and Quarter 2 Capital Monitoring Reports, which covered the first 7 months of the year to £13.930m, as approved at Executive Cabinet in November 2023. From the changes detailed within the report, the total programme now stood at £15.822m.

Resolved:

1.         To approve the revised capital programme, attached at Appendix A, which includes an amendment to the programme of £6.754m, as detailed at point 11 of the report.

2.         To note the variations to the programme (which are detailed by scheme at Appendix B and referenced within the body of the report);

3.         To note the position in the Balance Sheet monitoring section of the report, in respect of cash, investment and loan balances, and debtors, at 31 December 2023.

Reasons for recommendation

To ensure the Council’s Capital Programme is monitored effectively.

Other options considered and rejected

None.