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RESOLVED that the
Executive:
 
1)   
noted the position of the capital programme at the
end of Quarter 3 (to 31 December 2023) as summarised in the report
below and set out in detail in Appendix A to the report;

 
2)   
approved and noted the proposed carry forwards in
the capital programme as set out in Appendix B of the
report;
 
3)   
noted that an additional budget of £8,987,586
had been agreed for Gorse Ride Redevelopment to cover additional
inflationary costs (materials + labour) estimated over the project
life (above original £106m budget). The Executive decision in
February 2022 gave delegated authority to the Director of Resources
and Assets, in consultation with the Executive Member for Housing
and Finance, to approve the use of additional Affordable Housing
s106 commuted sums as a contingency against cost and funding
variations such as any future design changes and/or fluctuations in
costs and values of up to 15% of the cost of the scheme in the
event of any other financial impacts.
 
4)   
approved additional capital budget of
£2,920,000 for 2023/24 in relation to the secondary school
expansion programme. This is an acceleration of budget previously
set out in the Medium Term Financial Plan (MTFP) for use in 2024/25
and funded from DfE capital grants which have been received and
available to use.
 
5)   
approved a supplementary budget of £250,000
for Disabled Adaptations. This is funded in full, from the Housing
Revenue Account non-RTB reserve.
 
6)   
approved a supplementary budget of £93,862 for
the Mandatory Disabled Facilities Grant (DFG) project. This is
funded in full, from additional ringfenced grant awarded to the
Council in the current financial year.