Decision details

The Cabinet received a report setting out the second quarter monitoring for the 2024/25 General Fund, Housing Revenue Account, and Capital and seeking approval for changes to 2024/25 working budgets.

Members were advised that timing differences had resulted in some of the figures within the HRA appearing relatively high. These would be re-phased in the HRA Capital Programme with the funding allocated to be spent in later years.

It was RESOLVED:

General Fund

1.            That the 2024/25 second quarter projected net decrease in General Fund expenditure of £292,080 be approved.

2.            That the proposed movement on reserves as detailed in paragraph 4.2.1 be approved

3.            That a revenue contribution to capital for garages of £104,870 to fund works within the Capital Garage Improvement Programme (paragraph 4.1.2) be approved.

Housing Revenue Account

4.            That the 2024/25 second quarter net decrease in HRA expenditure of £4,129,020be approved.

Capital Programme

5.            That the General Fund capital budget re-phasing of £13Million from 2024/25 to future years be approved.

6.            That the Housing Revenue Account capital budget re-phasing of £3.4Million from 2024/25 and £6Million from 2025/26 to future years be approved.

7.            That the budget of £94.6K for remedial works, funded by developers’ contributions and £599K for the new spur road as part of Swingate works, funded by One Public Estate be noted (paragraphs 4.8.1 and 4.8.2).

8.            That the General Fund capital budget virements in paragraph 4.9 be approved.