Issue - meetings

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

1.    To approve the revised Capital Programme, as attached at Appendix A, which includes approved amendments to the programme of £0.754m as detailed at point 12 of this report.

2.    To consider 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 as at 30th September 2024.

Councillor Peter Wilson, Executive Member for Resources, presented the report of the Director of Finance which outlined the financial position of the Council in respect of the Capital Programme as at 30 September 2024. The report highlighted key issues and explained the key variances, as well as providing an overview on various elements of the Council’s Balance Sheet as at 30 September.

The Capital Programme for 2024/25 was set at £19.448m in February 2024. This was decreased to £15.253m following approval of the 2024/25 outturn position, and then increased to £16.152m following Executive Cabinet approval in October 2024. Following the changes detailed in the report, Members noted that the total programme for 2024/25 was £13.3443m.

Members noted the breakdown of the net decrease in the programme of £2.809m. Budget variations approved since the last Capital Monitoring report resulted in a total increase of £0.754m in the programme. These were in relation to the Refugee Resettlement Programme and Astley Hall but were countered by Asset Improvements and Levelling up.

Resolved (unanimously)

1. To approve the revised Capital Programme, as attached at Appendix A, which includes approved amendments to the programme of £0.754m as detailed at point 12 of this report.
2. To consider 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 as at 30th September 2024.

Reasons for recommendations

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

Other options considered and rejected

None, as it is good practice to report regularly on the Capital Programme and the monitoring of the Balance Sheet.