Issue - meetings

Noted.

The Executive noted the Part 2 Appendix.

That

1.  The report be noted, including a total rephasing of £27m from 2023/24 into future years as detailed in section 3.7, and a revised capital programme be agreed;

2.  The Capital Strategy for 2024/25 to 2027/28 be approved including the following amendments to the capital programme:

(a)  Adjustments identified as part of the capital monitoring process totalling a net reduction of £1,007k as detailed in sections 3.5 and 3.6; and

(b)  An increase of £2,477k in relation to new schemes to be added to  the Capital Programme as detailed in section 3.11.

Report FSD24015

This report incorporated the Council’s new Capital Strategy and Capital Programme for 2024/25 to 2027/28.  It also summarised the current position on capital expenditure and receipts following the conclusion of the third quarter monitoring exercise.

The report included details of the new schemes that will be added to the Capital Programme and information concerning the proposed asset disposals that would be used to generate capital receipts and ultimately contribute towards the funding of the Capital Programme.

Also included were details of the related Capital Financing implications, including proposals to refinance current housing schemes through borrowing, utilisation of revenue reserves to address the shortfall in capital resources for 2023/24 onwards and details of how these proposals would impact the Council’s revenue budget.

The report had been scrutinised by the Executive, Resources and Contracts PDS Committee at its meeting on 5 February 2024 and the Committee had supported the recommendations.

RESOLVED: That

1.  The report be noted, including a total rephasing of £27m from 2023/24 into future years as detailed in section 3.7, and a revised capital programme be agreed;

2.  The Capital Strategy for 2024/25 to 2027/28 be approved including the following amendments to the capital programme:

(a)  Adjustments identified as part of the capital monitoring process totalling a net reduction of £1,007k as detailed in sections 3.5 and 3.6; and

(b)  An increase of £2,477k in relation to new schemes to be added to  the Capital Programme as detailed in section 3.11.