Issue - meetings

The purpose of this report is to set out the projected outturn position for 2023/24 including any under/over spends and adjustments, along with requests to re-profile budgets to/from current and future years.

Resolved:

                                i.         Noted the 2023/24 revised budget of £148.745m as set out in paragraph 6 and Table 1 of the report.

                               ii.         Noted the restated capital programme for 2023/24 – 2027/28 as set.

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

The Chief Finance Officer outlined the funding assigned to the delivery of Council projects. She noted that there had been slippage in the capital programme resulting in a decrease of £135.903 million as detailed in this monitor resulting in a revised capital programme for 2023/24 of £148.745 million.

This is mainly due to a thorough review of the timings of the capital programme to reflect latest timescales.

The Executive Member for Finance, Performance, Major Projects and Equalities confirmed that they would be reviewing all capital projects. The Executive Member noted that slippage in the programme meant that the Council would not need to borrow additional capital this year for the capital programme.

Resolved:

                                i.         Noted the 2023/24 revised budget of £148.745m as set out in paragraph 6 and Table 1 of the report.

                               ii.         Noted the restated capital programme for 2023/24 – 2027/28 as set.

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