Issue - meetings

RESOLVED:           1)       That the outturn of the capital programme for 2023/2024 of £36,446,601 including Exempt Schemes be noted;

2)       That the financing arrangements for the 2023/2024 capital programme be noted.

Reason for Decision

To report the outturn 2023/2024 for the Capital Programme and receive an update to the Capital Programme 2023/2028.

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Councillor Morley introduced the report which set out the outturn of the 2023/2024 capital programme and outlined amendments and re-phasing to the spending on schemes, revising the programme for 2023/2028.  In presenting the report Councillor Morley drew attention to the need to further re-profile the capital projects for more realistic projections.

The Assistant Director Resources presented the detail of the report which showed that the capital programme outturn for 2023/2024 totalled £36,446,601 (including Exempt items) against an original budget of £58,369,790 (£66,671,310 including Exempt items).

It had been necessary to rephase a total of £23,331,560 (£31,633,080 including Exempt) of scheme costs to future years.

Useable capital receipts generated in the year from housing, land and property sales totalled £13,179,446.

The capital resources available to fund expenditure in 2023/2024 were detailed in section 3 of the report.

Councillor Beales asked about the £8m in the capital programme for projects, the Assistant Director confirmed that the projects would be reviewed and re-phased.  She also confirmed that no new capital projects had come forward at this time.

Councillor Beales asked if the Council’s Companies were re-financed if the funding were returned the money would go into the Capital programme.  The Assistant Director confirmed that it would be an amendment on the balance sheet as temporary borrowing would reduce.

RESOLVED:                    1)        That the outturn of the capital programme for 2023/2024 of £36,446,601 including Exempt Schemes be noted;

2)        That the financing arrangements for the 2023/2024 capital programme be noted.

Reason for Decision

To report the outturn 2023/2024 for the Capital Programme and receive an update to the Capital Programme 2023/2028.