Issue - meetings

REPORT OF THE SERVICE DIRECTOR – RESOURCES

To update Cabinet on progress with delivering the Capital Programme for 2025/26, as at the end of June 2025

RESOLVED: That Finance, Audit and Risk Committee considered any governance and risk issues in relation to the Cabinet recommendations,

RECOMMENDED TO CABINET:

(1)  That Cabinet notes the forecast expenditure of £27.624M in 2025/26 on the capital programme, paragraph 8.3 refers.

(2)  That Cabinet approves the adjustments to the capital programme for 2026/27 onwards, as a result of the revised timetable of schemes detailed in table 2 and 3, increasing the estimated spend in 2026/27 by £0.838M and £0.608M in 2027/28.

(3)  That Cabinet notes the position of the availability of capital resources, as detailed in table 4 paragraph 8.6 and the requirement to keep the capital programme under review for affordability.

(4)  That Cabinet recommends to Council that they approve a capital budget of £1.275M (£0.319M in 25/26, £0.478 in 26/27 and £0.478M in 27/28) for the Government’s new energy efficiency Warm Homes Scheme. This will be fully funded from Government grants, paragraph 8.5 refers

REASON FOR RECOMMENDATION: Cabinet was required to approve adjustments to the capital programme and ensure the capital programme is fully funded.

Audio recording – 2 hours 1 minute 25 seconds

The Director – Resources presented the report entitled ‘First Quarter Treasury Management Review 202526’ and highlighted that:

·         Table 2 listed the schemes in the 2025/26 Capital Programme that would be deferred and now start in or continue into future budgets.

·         Table 3 showed changes for total projected spend which total a net decrease of £0.281million.

·         The council was now in a position where it did not have sufficient funding to finance the Capital programme meaning the Council would have to borrow to fund the programme in this year. This would initially be internal borrowing.

In response to a question from Councillor Ruth Brown, the Director – Resources stated that there was a push to get local businesses to have solar panels installed that it was hoped would have created a small return for the Council. As solar panels were a long-term investment there had to also be protections in place. Ultimately, the Council had not been able to reach final agreements with any of the businesses that had shown an initial interest. The Council also needed to consider the resource implications, and opportunities to focus on other sustainability projects.

Councillor proposedVijaiya Poopalasingham and Councillor Sarah Lucas seconded and, following a vote, it was:

RESOLVED: That Finance, Audit and Risk Committee considered any governance and risk issues in relation to the Cabinet recommendations.

RECOMMENDED TO CABINET:

(1)  That Cabinet notes the forecast expenditure of £27.624M in 2025/26 on the capital programme, paragraph 8.3 refers.

(2)  That Cabinet approves the adjustments to the capital programme for 2026/27 onwards, as a result of the revised timetable of schemes detailed in table 2 and 3, increasing the estimated spend in 2026/27 by £0.838M and £0.608M in 2027/28.

(3)  That Cabinet notes the position of the availability of capital resources, as detailed in table 4 paragraph 8.6 and the requirement to keep the capital programme under review for affordability.

(4)  That Cabinet recommends to Council that they approve a capital budget of £1.275M (£0.319M in 25/26, £0.478 in 26/27 and £0.478M in 27/28) for the Government’s new energy efficiency Warm Homes Scheme. This will be fully funded from Government grants, paragraph 8.5 refers

REASON FOR RECOMMENDATION: Cabinet was required to approve adjustments to the capital programme and ensure the capital programme is fully funded.