Issue - meetings

To approve net changes of £67.181m for individual projects as part of the 2023/24 GF capital budget, re-profiling of £36.875m for individual projects as part of the 2023/24 HRA capital budget, and the Place Shaping Virement of £3.064m.

Cabinet approved the following recommendations:

·       Approved net changes of £67.181m for individual projects as part of the 2023/24 GF capital budget

·       Approved re-profiling of £36.875m for individual projects as part of the 2023/24 HRA capital budget.

·       Approved the Place Shaping Virement of £3.064m.

Reasons for decision

This report requests approval for changes to the profiles and/or budgets of several capital schemes have been identified as likely to have changed delivery profiles and thus led to in year variances to budget, as well as others that have reported as either likely to under or overspend.

Cllr Hug invited Cllr Boothroyd to speak to the report.

Cllr Boothroyd noted that the report takes account of the fact that some capital projects are delayed into the next financial year, and others are brought forward and delivered early.

Gerald Almeroth noted that this is a routine report to Cabinet to recognise re-profiling and that some of the schemes are to bring forward some capital budget to spend, including the Temporary Accommodation acquisitions programme.

Cllr Hug noted the importance of bringing forward the Temporary Acquisitions programme as fast as possible.

RESOLVED: Cabinet approved the following recommendations:

·       Approve net changes of £67.181m for individual projects as part of the 2023/24 GF capital budget

·       Approve re-profiling of £36.875m for individual projects as part of the 2023/24 HRA capital budget.

·       Approve the Place Shaping Virement of £3.064m.