Decision details
Budget Matters - Grant Applications
PDF 118 KBDecision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
To consider the report of the Cabinet Member
for Finance and Change detailing any financial decisions required
of a capital or revenue nature.
Decision:
(i) To accept and apply the grant funding from DFT, for Local Electric Vehicle Infrastructure (LEVI) grant of £1.63M and Traffic Signal Obsolescence Grant (TSOG) of £0.58M; and
(ii) To approve addition and spend of £2.21M which has been added to the Growth and Prosperity capital programme.
Reasons for the decision:
1. In accordance with the financial procedure rules (FPRs), all grant funding amounts between £0.50M and £2.00M must be approved by Cabinet.
2. In accordance with the FPRs, all capital additions between £0.50M and £5.00M must be approved by Cabinet.
Alternative options considered:
Not to accept the grant funding. This would result in a significant shortfall in electric vehicle infrastructure across the city, as there is currently insufficient capacity within existing budgets to deliver this infrastructure.
Report author: Steve Harrison (Finance)
Publication date: 16/04/2024
Date of decision: 16/04/2024
Decided at meeting: 16/04/2024 - Cabinet
Effective from: 25/04/2024
Accompanying Documents: