Issue - meetings
Capital Budget Monitoring Round 3 2024/25
Meeting: 11/02/2025 - Cabinet (Item 11)
11 Capital Budget Monitoring - Round 3 2024/25 
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Additional documents:
Minutes:
Background:
The report provided the Cabinet with the results of the third round of the Council’s capital budget monitoring process for 2024/25. The report advised a projected underspend of £7.612million (£7.554million as at Round 2).
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Decision:
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The Cabinet noted the results of the third round of capital budget monitoring for 2024/25. |
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13/2025 |
The Cabinet agreed to recommend to Full Council the addition of £43,647 of capital budget to the Hoo Dining and Changing scheme. £14,672 is to be funded from s106 developer contributions (MC/17/0962) and the remainder is to be funded from unallocated Basic Need grant. |
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14/2025 |
The Cabinet agreed to recommend to Full Council the addition of £52,950 of capital budget to be allocated to the Maritime Academy Science Block scheme, funded by borrowing in advance of s106 developer contributions (MC/21/2225) which had not yet been received. |
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15/2025 |
The Cabinet agreed to recommend to Full Council the removal of £2.4million for the Sir Joseph Williamson’s SEND scheme from the Capital Programme. The service would request a new capital addition once an alternative grammar provision had been identified. |
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16/2025 |
The Cabinet agreed to recommend to Full Council the removal of the remaining budget of £7,992 from the Building Maintenance scheme as this is now complete. |
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17/2025 |
The Cabinet agreed to recommend to Full Council the removal of the remaining budget of £100,000 from the Mobile Library scheme as this is no longer required with the addition of the Library Improvement Fund scheme to the Capital Programme. |
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18/2025 |
The Cabinet agreed to recommend to Full Council the addition of £559,000 to the Mountbatten House Purchase scheme, funded by prudential borrowing, to cover the costs of holding the building for onward sale to Medway Development Company (MDC). |
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.