Issue - meetings

Capital Budget Monitoring - Quarter 2 2024/25

 

 

Meeting: 19/11/2024 - Cabinet (Item 7)

7 Capital Budget Monitoring - Round 2 2024/25 pdf icon PDF 400 KB

Additional documents:

Minutes:

Background:

 

The report presented the results of the second round of the Council’s capital budget monitoring process for 2024/25.

 

It was noted Full Council had recently approved a series of changes to the Constitution, including to the budget virement limits.Capital virements of up to £1million could now be approved by the Chief Executive and Directors, capital virements up to £2million could be approved by Cabinet with anything above that being reported to Full Council for decision. 

 

Decision

number:

 

Decision:

 

The Cabinet noted the results of the second round of capital budget monitoring for 2024/25.

The Cabinet noted that the Chief Executive would use the revised delegation limits in the Constitution to agree virements from unallocated Basic Needs Grant as follows:

 

i)          an additional budget of £25,000 to cover the cost of further works to the car park relating to the Hundred of Hoo 1 Form Entry Primary Expansion scheme.

 

ii)         £66,000 to complete works to the Hoo Academy 6th form facilities.

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.