Item 11 - Capital Monitoring Report
West Dunbartonshire Council · 28 August 2024
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WEST DUNBARTONSHIRE COUNCIL Report by the Chief Officer – Resources Council 28 August 2024 ___________________________________________________________________ Subject: General Services Capital Budgetary Control Report 2024/25 to Period 3 (30 June 2024) 1. Purpose 1.1 This report provides an update on the General Services capital financial performance to 30 June 2024. 2. Recommendations 2.1 Committee is asked to: i) Note the current position of the 2024/25 General Services capital budget. ii) Approve £0.04m of additional capital budget for the Agresso Development project. iii) Approve the revised completion dates detailed in appendix 3. iv) Note an in-year variance of £15.786m due to reprofiling of projects. 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 was £76.757m for 2024/25 and £318.357m for the project life budget. ITEM 11
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3.2 Since then budget adjustments have taken place which result in a revised General Services capital budget as set out in Exhibit 1. Exhibit 1: Revised Capital Budget 2024/25 (£m) Project Life (£m) Capital Budget Agreed 6 March 2024 76.757 318.357 Capital Projects Removed (Para 4.6) (0.09) (0.017) Add Res7 Community Capital Fund 0.150 0,150 Add Res8 Community Sports Success Capital Fund 0.250 0.250 Capital Project Added (Para 4.6) 1.197 2.000 Developers Contributions for Clydebank Can on the Canal 0.050 0.050 New Scottish Government Funding – Nature Restoration 0.034 0.034 New Scottish Government Funding – Cycling, Walking and Safer Streets 0.389 0.389 Revised Capital Budget as at Period 3 78.737 315.501 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 is higher than the budget agreed by £0.040m (0.14% of budget) due to an anticipated overspend the Agresso Development Plan. 4.3 Appendix 2 highlights thirteen projects currently showing as off-track. One due to additional budget required (Agresso Development) and twelve due to revised completion dates. These are: Agresso Development Transformation of Infrastructure Libraries and Museums Legal Case Management System (RR1) Installation of Solar PV at Clydebank Leisure Centre Replace failed heating controls/valves & recommission - Original Levelling Up Capacity Auld Street Clydebank – Bond Riverbank Erosion Repair – Levenhowe Pavement Improvements Waste Transfer Station Park Improvements and Multi Games Area - Goldenhill Park
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Kilmaronock Cemetery Expansion Digital Inclusion 4.4 Appendix 3 highlights thirty six projects where the project expenditure requires to be reprofiled but there is no need for additional budget. 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 £78.737m with current forecast spend of £62.951m, a variance of £15.786m, (20.05%) relating to projects which require reprofiling. The spend as at period 3 is £8.298m (13.18%) of the current forecast spend of £62.951m. 4.6 Other minor changes to the capital plan already included in the summarised plan in appendix 4 are: The Clyde Mission Catalyst Fund has been added onto the Capital Plan (Project RR13). This is not a new project and funding for it was received 16 April 2021 from Scottish Government. It was omitted from the Capital Plan in March 2024 as it has been managed through a different method. The presentation has been corrected and the project will be monitored through the capital plan moving forward. This has no impact on funding as it is fully funded. Early Early Years Early Learning and Childcare Funding project has been removed. It was anticipated that there would be a carry forward of budget into 2024/25 from 2023/24. However, projects were completed by 31 March 2024 and therefore no carry forward was required The Demolition 215 main street electronic insurance projects have been removed as they are both complete. 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.
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(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: 8 August 2024 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. Wards Affected All Wards