Issue - meetings

Purpose: the capital financing performance report provided to Members reports on the under or overspends against the Council’s approved capital programme and associated capital financing implications. The report presents the provisional outturn position for financial year 2023/24 as forecast at quarter three, and future borrowing requirement for financial year 2024/25 which is funded from the Council’s revenue budget.      

Resolved that: Members

·       Note the quarter three underspend position of £12.9 million and reprofiling proposals of £3.2 million. Reprofiling proposals are included in appendix B.

·       Note the budget changes included in the quarter three position detailed in appendix A.

·       Note an increase in the grant funded element of the Disabled Facilities Grant of £345k due to increased grant funding secured.

This decision is not subject to call in as:

·     Report is to note only

therefore it will be implemented immediately.

Councillor Iain Cottingham introduced a report (Agenda Item 6), which presented the provisional outturn position for financial year 2023/24 as forecast at Quarter Three, and future borrowing requirement for financial year 2024/25 which would be funded from the Council’s revenue budget.

Councillor Dominic Boeck expressed disappointment in the delay to funding for Education Services and queried in particular reasons for delay to the iCollege project and SEMH/ASD primary provision. Councillor Cottingham explained that recruitment for both projects was underway, and Councillor Heather Codling promised to provide a written response with more details.

Councillor Boeck referred to section 5.9 of the report which stated that the Castle School Ways of Working project had ceased and queried the reason. Councillor Codling stated that she did not believe that the project had stopped.

RESOLVED that: Executive

·       Note the quarter three underspend position of £12.9 million and reprofiling proposals of £3.2 million. Reprofiling proposals are included in appendix B.

·       Note the budget changes included in the quarter three position detailed in Appendix A.

·       Note an increase in the grant funded element of the Disabled Facilities Grant of £345k due to increased grant funding secured.