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Issue - meetings

THIRD QUARTER CAPITAL BUDGET MONITORING REVIEW 2025/26

 

 

Meeting: 25/03/2026 - Finance, Audit and Risk Committee (Item 71)

71 THIRD QUARTER CAPITAL BUDGET MONITORING REVIEW 2025/26 pdf icon PDF 217 KB

REPORT OF THE DIRECTOR – RESOURCES

 

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

Additional documents:

Decision:

RESOLVED: That the Finance, Audit and Risk Committee provided comments and recommend to Cabinet:

 

(1)    That Cabinet notes the forecast expenditure of £23.350M in 2025/26 on the capital programme, paragraph 8.3 refers.

 

(2)    That Cabinet approves the adjustments to the capital programme for 2026/27, as a result of the revised timetable of schemes detailed in table 2 and 3, increasing the estimated spend by £3.011M.

 

(3)    That Cabinet approves a change of scope to the Priory Gardens Bandstand project from renovation to rebuild and an increase of the budget in 2026/27 by £0.025M.

 

(4)    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.

 

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

 

Minutes:

Audio recording – 1 hour 29 minutes 4 seconds

 

The Director – Resources presented the report entitled ‘Third Quarter Capital Budget Monitoring Review 2025/26’ and highlighted that:

 

·         The capital report showed slippage into the following year with the explanations for each slippage in table 2.

·         There were changes to the overall costs of schemes in 2025/26, these changes totalled a net decrease of £0.81million as detailed in Table 3.

·         Two underspends were reported relating to Fibre Waste Bin purchases and EV charging at the Letchworth depot.

·         There was an underlying need to borrow, with revenue contributions of £3.2 million, set out in table 4.

 

In response to a question from Independent Member John Cannon, the Director – Resources stated that the discrepancy between the two papers of the Council asset worth would be rectified in future papers and Members would be made aware of the correct value.

 

Councillor Vijaiya Poopalasingham proposed and Councillor Ruth Brown seconded.

As part of the debate Councillor Ruth Brown commented that it was positive to see that the Priory Gardens Bandstand was going to be rebuilt rather than renovated.

 

Having been proposed and seconded and, following a vote, it was:

 

RECOMMENDED TO CABINET: That the Finance, Audit and Risk Committee provided comments and recommend to Cabinet:

 

(1)  That Cabinet notes the forecast expenditure of £23.350M in 2025/26 on the capital programme, paragraph 8.3 refers.

 

(2)  That Cabinet approves the adjustments to the capital programme for 2026/27, as a result of the revised timetable of schemes detailed in table 2 and 3, increasing the estimated spend by £3.011M.

 

(3)  That Cabinet approves a change of scope to the Priory Gardens Bandstand project from renovation to rebuild and an increase of the budget in 2026/27 by £0.025M.

 

(4)  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.

 

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