Item 15 - Corporate Services Capital Budgetary Control Report to 31 August 2024 (Period 5)
West Dunbartonshire Council · 6 November 2024
Back to Corporate Services Committee — 6 November 2024 and its agenda
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WEST DUNBARTONSHIRE COUNCIL Report by the Chief Officer – Resources Corporate Services Committee – 6 November 2024 ___________________________________________________________________ Subject: Corporate Services Capital Budgetary Control Report to 31 August 2024 (Period 5) 1. Purpose 1.1 This report provides an update on the Corporate Services capital programme to 31 August 2024. 2. Recommendations 2.1 Committee is asked to: i) Note the current position of the 2024/25 capital budget for Corporate Services ii) Note that the project life total is currently on track. iii) Note the revised completion date detailed in appendix 2. 3. Background 3.1 On 6 March 2024 the Council approved the updated General Services Capital Plan for 2024/2025 to 2032/33. The three years from 2024/25 to 2026/27 were approved in detail with the remaining years being indicative. 3.2 Since then budget adjustments have taken place which result in a revised Corporate Services capital budget as set out in Exhibit 1. Exhibit 1: Revised Corporate Services Capital Budget 2024/25 (£m) Project Life (£m) Corporate Services Capital Budget Agreed 6 March 2024 3.624 28.560 Remove Electronic Insurance System, Project ended. (0.007) (0.050) RES 7 Community Success Capital Fund 0.150 0.150 RES 8 Community Sports Success Capital Fund 0.250 0.250 RES 4 Agresso Project 0.040 0.040 Reprofiling Agreed at P3 0.123 0 Revised Capital Budget as at Period 5 4.180 28.950 ITEM 15
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4. Main Issues 4.1 Progress against the 2024/25 capital plan is detailed in: Appendix 1 – Project Life Summary by Chief Officer Appendix 2 – Off Track Projects Appendix 3 – Changes to Capital Plan for Noting Appendix 4 – All Approved Projects 4.2 The overall programme summary report at Appendix 1 shows that planned expenditure against the budget agreed 6 March 2024 is on track. 4.3 Appendix 2 highlights one project currently showing as off-track. • Heritage Fund is off-track as a result of a delay to the installation of the new district heating system and also due to water ingress. 4.4 Appendix 3 there are no projects to be reprofiled at period 5. 4.5 Appendix 4 shows all projects with approved in year and project life budgets as well as anticipated expenditure. It highlights that the 2024/25 budget is £4.180m with current forecast spend of £4.180m. The spend as at period 5 is £0.540m (12.93%) of the current forecast spend of £4.180m. 5. Option Appraisal 5.1 No option appraisal was required for this report. 6. People Implications 6.1 There are no people implications. 7. Financial and Procurement Implications 7.1 The report notes the projected in-year financial position for capital budgets. 8. Risk Analysis 8.1 The main risks are as follows: (a) The reported variances should be viewed in the knowledge that there are a number of variable factors which could arise between now and 31 March which could affect the year end results for capital budgets. (b) As a consequence of current market conditions, inflation is at an all-time high and interest rates continue to be volatile. To forecast for the full year costs budget assumptions have been required. These assumptions continue to change regularly and therefore it is likely the projected year end budgetary position will change from that reported. 9. Equalities Impact Assessment (EIA) 9.1 No equalities impact assessment was required in relation to this report. 10. Environmental Sustainability 10.1 No assessment of environmental sustainability was required in relation to this report.
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11. Consultation 11.1 All services involved in delivering the capital budgets have been consulted in the compilation of this report. 12. Strategic Assessment 12.1 Proper budgetary control and sound financial practice are cornerstones of good governance and support Council and officers to pursue the strategic priorities of the Council’s current Strategic Plan. This report forms part of the financial governance of the Council. Laurence Slavin Chief Officer – Resources Date: 14 October 2024 ________________ Person to Contact: Adrian Gray Council Offices, Church Street, Dumbarton E-mail: adrian.gray@west-dunbarton.gov.uk Appendices: Appendix 1 - Project Life Summary Appendix 2- Off Track Projects Appendix 3 - Reprofiling and Acceleration of Projects Appendix 4 - Details of all Projects. Background Papers: General Services Capital Plan Update - Council 6 March 2024. Capital Monitoring Report – Council 28 August 2024. Wards Affected All Wards