Issue - meetings
Capital Budget Monitoring - Quarter 1 2024/25
Meeting: 30/07/2024 - Cabinet (Item 7)
7 Capital Budget Monitoring - Round 1 2024/25 
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Additional documents:
Minutes:
Background:
This report presented the results of the first round of the Council’s capital budget monitoring process for 2024/25. The first round forecast a projected underspend within the Regeneration, Culture and Environment directorate of £4.665million. All other Services/Directorates were forecast to complete their capital schemes within the approved budget.
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Decision number:
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Decision:
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The Cabinet noted the results of the first round of capital budget monitoring for 2024/25. |
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111/2024 |
The Cabinet approved a virement of £500,000 from the projected underspend on the scheme at Victory Academy to the Greenacre Academy scheme to cover a projected overspend on that scheme. |
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.