Decision details

The Capital Programme for 2023-24 to 2026-27 was approved by Full Council in February 2023, with an expenditure budget of £505.9m. The programme was revised to £556.8m following additions agreed by Cabinet in July 2023. The Council often received ringfenced funding in-year from Government and Developers which were added to the programme in a supplementary budget change. Additionally, the programme was reviewed quarterly to check that the profiled spend remained realistic. The report set out the recommended additions and reprofiling for Quarter 2, and also recommended 3 projects to be reduced or removed from the programme. These budget changes would ensure the programme remained realistic and deliverable, and released budget for reinvestment. The recommended changes would increase the 4-year Capital Programme to £582.6m by 2026- 27 and would reduce the 2023-24 current year budget from £149.3m to £124.6m.

RESOLVED that the following Budget adjustments to the Capital Programme be approved:

1. Addition of £5.908m to the programme for new externally funded ringfenced grants and S106 developer contributions.

2. Addition of £2.338m to the programme funded from Corporate Resources, to fund inflationary pressures or new spend on existing, priority projects.

3. Removal of £0.460m for projects which have completed or are no longer proceeding.

4. Reprofile of £24.335m from the current year into future years.