Issue - meetings

Capital Programme Update Monitor 1

The purpose of this report is to set out the projected outturn position for 2024/25 including any under/overspends and adjustments, along with requests to re-profile budgets to/from current and future years.

Additional documents:

Annex 1 - Abbreviated Capital Programme., item 27 PDF 111 KB

Decision:

Recommended:

i. To recommend to Full Council the adjustments resulting in a decrease in the 2024/25 budget of £81.72m as detailed in the report;

Resolved:

ii. Noted the 2024/25 revised budget of £134.154m as set out in paragraph 4 and Table 3;

iii. Noted the restated capital programme for 2024/25 – 2028/29 as set out in Annex 1;

iv. Approved the grant award to University of York for £530k for the Ousewem Flood Resilience Project.

Reason: To enable the effective management and monitoring of the Council’s capital programme.

Minutes:

The Director of Finance introduced the report. She outlined the proposal to decrease the 2024/25 budget by £81.72m as costs for some projects would be reprofiled to future years. She also asked the Executive to note the 2024/25 revised capital programme of £134.154m. She also explained that grant award to University of York for the Ousewem Flood Resilience Project had now exceeded the key decision threshold therefore would require Executive approval.

The Executive Member for Finance, Performance, Major Projects, Human Rights, Equality and Inclusion stated that with Council’s difficult position it was right to move borrowing costs where possible to future years. She noted that a lot of the funding for projects came from external sources, but that the Council did undertake borrowing to support schemes.