Item 15 - IRED BCR Capital Monitoring Report
West Dunbartonshire Council · 5 February 2025
Back to Infrastructure, Regeneration & Economic Development Committee — 5 February 2025 and its agenda
Text extracted from the council's PDF. Layout and reading order may differ from the original.
Page 1
WEST DUNBARTONSHIRE COUNCIL Report by the Chief Officer – Resources Infrastructure, Regeneration & Economic Development Committee: 6 February 2025 _________________________________________________________________ Subject: Infrastructure, Regeneration & Economic Development Capital Budgetary Control Report 2024/25 31 October 2024 (Period 7). 1. Purpose 1.1 This report provides an update on the capital financial performance to 31 October 2024 of those services under the auspices of the Infrastructure, Regeneration & Economic Development Committee (IRED). 2. Recommendations 2.1 Committee is asked to: i) Note the current position of the 2024/25 IRED capital budget. ii) Note the revised completion dates detailed in appendix 3 agreed at Council on 18 December 2024. iii) Note the additional capital budget of £0.133m in respect of Posties Park agreed at Council on 18 December 2024. iv) Note an in-year variance of (£4.284m) mainly due to reprofiling (£4.418m). 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. The budget agreed under the auspice of IRED Committee was £51.612m for 2024/25 and £215.153m for the project life budget. 4. Main Issues Exhibit 1 sets out the revised capital budget at period 5 as reported to Committee 6 November 2024. ITEM 15
Page 2
Exhibit 1: Revised Capital Budget as at 30 October 2024 2024/25 Project Life £m £m Capital Budget Agreed 6 March 2024 51.612 215.153 Updates Reported to Committee 14 August and 6 November 0.930 4.276 Reprofiling Reported to Committee 14 August (13.311 ) Revised Capital Budget at Period 5 39.231 219.429 Reprofiling Reported at Period 5 (1.05) Additional Budget Approved for Posties Park at period 5 0.231 0.231 New Approved Budget as at Period 5 38.412 219.66 Changes Between Period 5 and Period 7 Removal of Nature Restoration (0.034) (0.600) New SPT Funding 0.310 Revised Budget as at Period 5 38.688 219.06 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 is lower than the budget agreed by £0.166m mainly due to three projects not utilising their full budget. These are: RN2 Flood Risk Management – limited actions are required under the current management plan. RN4 Flood Prevention – original estimates for surface water management plans were lower than expected, there was also limited uptake on property level protection. RN28 Balloch Mountain Bike Track – project scope has been reduced which has in turn reduced match funding element. 4.3 Appendix 2 highlights two projects currently showing as off track. One project (RN17 Posties Park) requires additional budget and (RN28 Balloch Mountain Bike Track) is off track due to revised completion dates. RR17 Posties Park – additional budget of £0.133 required for utility costs incurred as part of capital build project (approved by Council on 18 December 2024). RN28 Balloch Mountain Bike Track – completion date amended due to revised project scope.
Page 3
4.4 Appendix 3 highlights eleven projects where the project expenditure requires to be reprofiled but there is no need for approval of additional budget. It also highlights two projects already existing in the capital programme where additional funding has been made available from Scottish Government. RN32 – Cycling, Walking, Safer Route Tier 1 (Active Travel) – additional Scottish Government funding of £0.252m. RN34 – Strathclyde Partnership for Transport Bus, Cycling and Walking Infrastructure Improvements & Park & Rides – additional Scottish Government funding of £0.310m. 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 £38.687m with current forecast spend of £34.403m, a surplus variance of £4.284m mainly due to reprofiling (£4.418m) and additional budget of £0.133m. The spend as at period 7 is £11.769m (34.21%) of the current forecast spend of £34.403m. 4.6 Exhibit 2 sets out the revised IRED capital budget at period 7 following approval by Council on 18 December 2024. Exhibit 2: Revised Capital Budget £m £m Revised Capital Budget at 30 October 2024 38.688 219.06 Reprofiling of Budgets as reported at Appendix 3 (4.680 ) 0.000 Reduction of Budgets as reported at Appendix 3 (0.300 ) (0.300) New Funding as reported at Appendix 3 0.562 0.562 Added RN17 additional funding Posties Park 0.133 0.133 Proposed Revised Capital Budget Period 7 34.403 219.455 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.
Page 4
(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. 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: 21 January 2025 Person to Contact: Jackie Thomson Council Offices, Church Street, Dumbarton E-mail: jackie.nicolthomson@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 6 November 2024. Wards Affected All Wards