Purpose

Quarterly report

Content

The Council’s Capital Programme for
2024/25 to 2027/28 was approved by Full Council in February 2024 as
£666.264m. The programme was revised to £674.944m
following additions agreed by Cabinet in July 2024. The programme
was further revised to £686.589m by Cabinet in November 2024.
This report set out the changes required in Quarter 3 bringing the
programme to £687.780m.
 
The report recommended changes which have been
recommended through the Council’s Gateway process:

·      
Additions of £1.283m for new projects which are externally
funded from grants and s.106.

·      
Reductions of £0.053m, where a project has been completed and
an expectation of a project underspend.

·      
A reprofile of the programme to align with current project delivery
plans, including a net £0.149m is recommended to be
reprofiled from 2024-25 to future years.

·      
Release of £37.505m for projects which are recommended to
release existing budgets to projects which have come forward as
part of the Capital Gateway Process as outlined by section 5 of the
report.
 
Since Quarter 2 there had been a £0.089m
budget removal through Leader Decision (Marlow Hill S106). Also,
there had been £9.337m of budget releases which had been put
through a Leader or Key decision.
 
RESOLVED that the recommended changes to the Capital Programme
be APPROVED:

1.     
£1.283m of additions to the Capital Programme, which are
funded from ringfenced grants and s.106.

2.     
£0.142m of removals due to completion, expected underspend
or a transfer to revenue to fund operating costs.

3.     
The revised £687.780m Capital Programme, with
£0.149m reprofiled from 2024/25 into future years.

4.     
The release of funding of £37.505m relating to the
projects set out in section 5 of the report.