Decision details

The Director of Resources and Deputy Chief Executive submitted a report seeking approval for the 2023/24 revised estimate for this Committee’s capital programme.

Seven capital schemes for this Committee’s original estimate budget, totalling £2,860,440 were approved by the Policy and Finance Committee and Full Council at their meetings in February 2023 and March 2023 respectively.  Furthermore, an additional budget of £34,290 was approved for an existing scheme due to additional government funding being received (Disabled Facility Grants).

Seven capital schemes had not been completed by 21 March 2023. The total unspent budget of £1,006,190 for these schemes, known as slippage, was moved into the 2023/24 capital programme budget, after approval by this Committee on 8 June 2023. 

The proposed revised estimate for this Committee’s 2023/24 capital programme was £1,243,830, which was a £2,657,090 reduction from the previously approved capital budget.  It was recommended that budgets totalling £2,652,580 on five schemes be moved to the 2024/25 financial year.

It was further noted that at the end of December 2023, £533,787 had been spent or committed. This was 42.9% of the revised capital programme for this Committee.

RESOLVED THAT COMMITTEE:

1.     Approve the 2023/24 revised estimate of £1,243,830 for this Committee’s capital programme, as set out in Annex 1 of the report.

2.     Approve the move of the following capital scheme budgets from 2023/24 to 2024/25:

·       Affordable Housing – Longridge, £1,625,950

·       Disabled Facilities Grants, £517,430

·       Assisted Purchase Scheme, £297,130

·       Landlord/Tenant Grants, £112,490

·       Temporary Housing Scheme, £99,580