Purpose

Quarterly update on spend against the capital
programme.

Decision

Note:
 
1)     
The forecast capital expenditure for 2024/25 of £35.035M
which is £0.406M lower that the latest agreed capital
programme budget of £35.441M;

 
2)     
The 2024/25 significant outturn variations and explanations for
them as shown in section 4 of the report;
 
3)     
The quarter one forecasts and impact of scheme variances for
2024/25 on future years’ capital expenditure;
 
4)     
The latest forecast of capital receipts, grants and contributions
for 2024/25 in section 5 of the report;
 
5)     
The risks associated with the capital forecasts are as detailed in
section11 of the report;
 
6)     
The latest approved capital programme for 2024/25 to 2027/28 and
the financing as shown in section 6 of the report and detailed in
Appendix 1 of the report; and
 
7)     
The capital programme remains fully funded from the council’s
own resources up to 2027/28, based on the latest forecast of
available resources.
 
Recommendation to
Council:
That Council approve additions to the capital
programme of £0.300M to support the delivery of Council Plan
Priorities as set out in section 8 of the report to fund a new
capital scheme:
• Maritime House