Members considered the capital budget variations for 2024/25. The approved Capital Programme for 2024/25 included a total budget of £435,500 for Aids and Adaptations (Council Housing). Due to resource issues over the recent years, a backlog of works had built up which was now being resolved. Aids and adaptations works were often reactionary, rather than planned, and difficulty to forecast overspends. It was proposed to transfer £250,000 between the Heating Replacement and Energy Efficiency Works budget as this was underspent to fund the anticipated, overspend on Aids and Adaptations. These schemes were funded by a mixture of contributions from the Major Repairs Reserve and prudential borrowing.
RESOLVED that the capital budget variations for 2024/25, as set out in the report, be approved.
Reason
To be accountable for all activities and actions and to ensure that the Council conforms to all financial regulations.