Purpose

This report informs the
Executive of the progress of the Council in delivering its capital
programme for the financial year 2024/2025 Q1.

Content

RESOLVED: 
That the Executive
 

1)   
notes the position of the capital programme at the
end of Quarter 1 (to 30 June 2024) as summarised in the report
below and set out in detail in Appendix A to the report;

2)   
approves and notes the proposed reprofiling of
budgets to future years in the capital programme as set out in
Appendix B;

3)   
notes and approves the following budget adjustments
to the capital programme which include;
a)   
the reduction of the schools devolved capital budget
for 2024/25 from £250,000 to £211,543 to ensure the
revised budget allocation matches the latest provisional ringfenced
grant funding announced by the DfE and approve future adjustments
to the budget to ensure these match the final confirmed funding
from the DfE.
b)   
an additional £15,000 capital budget in
2024/25 towards Twyford Library refurbishment. This additional
contribution is to be funded from the Parish Council.
c)   
An additional £26,850 capital budget in
2024/25 towards WayFinder toten poles in Wokingham Town and
Southern Western Railway (SWR) Stations in the Borough. This
additional contribution is to be funded from the SWR Community
Funding Agreement (CCIF).
d)   
An additional £150,000 capital budget in
2024/25 towards Residential Children’s Home / Multifaceted
Placement Hub. This additional contribution will be funded from
revenue contributions achieved through cost reductions from this
investment.
e)   
An additional £150,000 capital budget in
2024/25 towards social housing decarbonisation scheme. This is part
of the HRA and funded from SHDF Wave 2.1 Ringfenced
Grant.

4)   
Update the terms of the community investment policy
(CIP) to follow the principles of service delivery in accordance
with the latest Public Works Loan Board (PWLB) guidance.