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The Cabinet received a report
setting out the second quarter monitoring for the 2024/25 General
Fund, Housing Revenue Account, and Capital and seeking approval for
changes to 2024/25 working budgets.
 
Members were advised that
timing differences had resulted in some of the figures within the
HRA appearing relatively high. These would be re-phased in the HRA
Capital Programme with the funding allocated to be spent in later
years.
 
It
was RESOLVED:
 

General Fund
 
1.           
That the 2024/25 second quarter projected net
decrease in General Fund expenditure of £292,080 be
approved.
2.           
That the proposed movement on reserves as detailed
in paragraph 4.2.1 be approved
3.           
That a revenue contribution to capital for garages
of £104,870 to fund works within the Capital Garage
Improvement Programme (paragraph 4.1.2) be approved.

Housing Revenue Account
 

4.           
That the 2024/25 second quarter net decrease in HRA
expenditure of £4,129,020be approved.

Capital Programme
 

5.           
That the General Fund capital budget re-phasing of
£13Million from 2024/25 to future years be
approved.

6.           
That the Housing Revenue Account capital budget
re-phasing of £3.4Million from 2024/25 and £6Million
from 2025/26 to future years be approved.

7.           
That the budget of £94.6K for remedial works,
funded by developers’ contributions and £599K for the
new spur road as part of Swingate works, funded by One Public
Estate be noted (paragraphs 4.8.1 and 4.8.2).

8.           
That the General Fund capital budget virements in
paragraph 4.9 be approved.