Purpose

The report requests the approval and
delegation for urgent virements that are required in order to
regularise the budget for projects to proceed without delay, where
delay would risk project delivery.

Content

RESOLVED

That the Cabinet:

a)               
approves the virement of £200,000 to allow officers to apply
the funding to the project as detailed in paragraph 5.2 of report

FIN/731.

b)               
approves an increase in the capital budget funded from capital
receipts as detailed in paragraph 
5.3  report
FIN/731.

c)               
notes the change in the use of the budget as detailed in paragraph
5.4 report
FIN/731.

d)               
approves a virement as detailed in paragraph 5.5 report
FIN/731.

Reasons for the
Recommendations

a)               
The budget changes were not known when the 2025-2026 Budget
Monitoring Q3 report FIN/722 was considered by OSC and Cabinet on 2
February 2026 and 4 February 2026 respectively.  The approvals are required in order to regularise
the budget for projects to proceed without delay, where the delay
would risk project delivery.

b)               
The additional budget and virement are higher than the amount
delegated to the Head of Corporate Finance. The recommendations are
therefore necessary to comply with the Council’s Financial
Regulations.