Decision details
Capital financial monitoring for the period to the end of June 2024
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
Purpose:
Report of the Cabinet Member for Finance and
Corporate Services providing information on any major changes in
the General Fund and Housing Revenue Account (HRA) capital
programme.
Decision:
(i) Note the revised General Fund Capital Programme, which totals £206.06M as detailed in paragraph 3.
(ii) Note the HRA Capital Programme is £240.53M as detailed in paragraph 3.
(iii) Approve slippage of £6.24M within the General Fund programme, as detailed in paragraphs 7 to 9 and Appendix 3.
(iv) Note that the overall forecast position for 2024/25 at quarter 1 is £170.82M, resulting in a potential underspend of £1.01M, as detailed in paragraphs 10 to 12 and Appendix 2.
(v) Note that the capital programme remains fully funded up to 2028/29 based on the latest forecast of available resources although the forecast can be subject to change; most notably regarding the value and timing of anticipated capital receipts and the use of prudent assumptions of future government grants to be received.
Reasons for the decision:
To ensure that Cabinet fulfils its responsibilities for the overall financial management of the Council’s resources.
Alternative options considered:
None.
Report author: Madeleine Modha
Publication date: 27/08/2024
Date of decision: 27/08/2024
Decided at meeting: 27/08/2024 - Cabinet
Effective from: 05/09/2024
Accompanying Documents:
- Capital financial monitoring for the period to the end of June 2024
PDF 348 KB - Appendix 1 - GF & HRA Programme Changes Since Last Reported Position
PDF 11 KB
- Appendix 2 - GF & HRA Major Forecast Variance Since Last Reported Position
PDF 7 KB
- Appendix 3 - GF & HRA Slippage Rephasing Since Last Reported Position
PDF 109 KB
- Appendix 4 - GF & HRA Revised 5 Year Programme and Use of Resources
PDF 118 KB