Decision details

Cabinet is recommended to:

(i)  Note the revised General Fund Capital Programme, which totals £308.84M as detailed in paragraph 3.

(ii)  Note the HRA Capital Programme is £255.70M as detailed in paragraph 3.

(iii)  Approve the addition and spend of £0.68M to the Children & Learning programme in 2024/25, as detailed in paragraph 7 and Appendix 1.

(iv)  Approve the addition and spend of £1.58M to the Place programme in 2023/24, as detailed in paragraphs 8 to 10 and Appendix 1.

(v)  Accept the Local Authority Housing Fund grant of £1.713m from DLUHC, receivable in two tranches in March and September, as detailed in paragraph 11.

(vi)  Approve the addition and spend of £1.71M to the HRA programme in 2023/24, as detailed in paragraph 11 and Appendix 1.

(vii)  Approve slippage of £4.51M within the General Fund programme, as detailed in paragraphs 12 to 14 and Appendix 3.

(viii)  Note that the overall forecast position for 2023/24 at quarter 1 is £176.52M, resulting in a potential underspend of £1.18M, as detailed in paragraphs 15 to 17 and Appendix 2.

(ix)  Note that the capital programme remains fully funded up to 2027/28 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. It is also important to note that in times of rising interest rates, inflationary pressures and future budget shortfalls the capital programme needs to be kept under review.

To ensure that Cabinet fulfils its responsibilities for the overall financial management of the Council’s resources.

Not applicable.