Council is requested to agree to the following recommendation of the Policy and Resources Committee held on 14 June 2023:

That the transfer to and use of earmarked reserves, as detailed in Appendix 3, be approved.

The minute extract and report are attached.

The first matter requiring approval was the proposed approval of the revised Capital Programme of £178.1m for 2023/24, including the virements of budget referred to in Appendix D as recommended by Policy and Resources Committee on 14 June 2023.

On a motion moved by Councillor Paul Stuart, seconded by Councillor Jean Robinson, it was –

Resolved (unanimously) – That the revised Capital Programme of £178.1m for 2023/24 be approved, including the virements of budget referred to in Appendix D.

The Director of Finance introduced the report which detailed the Capital Outturn for 2022/23 and the resources used to fund the Programme. It asked that the Committee recommended that Council agree the revised 2023/24 Capital Programme which took account of re-profiling, virements, additional funding requirements and grant variations identified since the Capital Programme was formally agreed on 28th February 2022.

Members of the Committee raised several queries regarding the delivery of different capital projects including the Enterprise Resource Planning System, Regeneration and Highway Maintenance which the Chief Executive undertook to seek responses via the relevant Director to the relevant Committees. The Director of Finance further assured the Committee that any capital virements are either decided by or reported to Policy & Resources Committee.

Resolved – That

(1)  Council be recommended to approve the revised Capital Programme of £178.1 million for 2023/24, including the virements of budget referred to in Appendix D.

(2)  Council be recommended to note the financing of the Programme for 2022/23.

(3)  Council be recommended to note the additional year-end re-profiling of £38.2m from 2022/23 to 2023/24.