Issue - meetings
Capital Budget Monitoring 2023/24 - Round 2
Meeting: 21/11/2023 - Cabinet (Item 6)
6 Capital Budget Monitoring 2023/24 - Round 2 
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Additional documents:
Minutes:
Background:
This report presented the results of the second round of the Council’s capital budget monitoring process for 2023/24. The report explained that this forecast an underspend of £5,000 within the Children’s and Adults Directorate and £40,000 within Members Priorities, whereas the Regeneration, Culture and Environment Directorate was forecasting an overspend of £261,000. All other Services/Directorates were forecast to complete their capital schemes within the approved budget.
The report also presented a number of changes to the capital programme and asked the Cabinet to recommend to Council the removal of a number of budgets relating to schemes that were either complete or no longer required.
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Decision number:
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Decision:
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The Cabinet noted the results of the second round of capital budget monitoring for 2023/24 and the management actions to resolve the projected overspend in Children’s and Adults. |
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The Cabinet noted the changes made to the capital programme, as set out in 11.1 to 11.4 of the report. |
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175/2023 |
The Cabinet recommended to Full Council the removal of the following budgets relating to schemes that were either complete or no longer required: · Motorway Signage, £60,000 funded from Capital Receipts. · World Heritage Site & GLHP, £31,000 funded from Capital Grants. · Civic Centre Decant, £24,000 funded from Reserves. · Mountbatten House Purchase, £92,000 funded from Borrowing. · MDC Queen Street, £20,000 funded from Borrowing. · MP St Mary’s Amateur Boxing Club, £40,000 funded from Capital Receipts. |
Reasons:
Full Council is responsible for agreeing the capital programme. Cabinet is responsible for ensuring that expenditure remains within the approved programme, including instructing corrective action to prevent any forecast overspend from materialising.