The Chief Officer Finance Performance and Change presented a report which sought to:

• Comply with the Chartered Institute of Public Finance and Accountancy’s (CIPFA) ‘The Prudential Code for Capital Finance in Local Authorities’ (2021 edition) requirement to report performance against all forward looking indicators on a quarterly basis.

• provide details of the capital outturn for 2022-23 (Appendix A)

• note the actual Prudential and Other Indicators for 2022-23 (Appendix B)

The Chief Officer Finance Performance and Change explained that Appendix A provided details of the individual schemes within the capital

programme, showing the budget available in 2022-23 compared to the actual spend. Since the last report presented to Council in March 2023 there have been a few minor amendments to the 2022-23 Programme which were highlighted at 3.1.2 of the report. The revised budget for 2022-23 was now at £58.760 million.

She highlighted that slippage forecast to be spent in 2023-24 of £27.875 million is required. These were highlighted in 3.1.4 of the report.

The Chief Officer Finance Performance and Change stated that In February 2022, Council approved the Capital Strategy for 2022-23, which included

the Prudential Indicators for 2022-23. Appendix B detailed the actual indicators for 2021-22, the estimated indicators for 2022-23 set out in the Council’s Capital Strategy and the actual indicators for 2022-23 based on the Capital Programme outturn. These show that the Council is operating in line with the approved indicators.

The Leader welcomed the report and the progress on the Eweny Road industrial estate site as well as the Shared Prosperity Fund update. He asked in relation to the affordable housing and the allocation for this, confirmation of the sum and the reason for it being reported.

The Chief Officer Finance Performance and Change explained that the £844,000 was section 106 monies that had been received last year and has been earmarked. A report to Cabinet is due shortly on a draft Homelessness Strategy which will outline our aspirations with regards with what needs to be done to increase the housing availability across the borough. This money will be used towards this.

RESOLVED: that Cabinet:

• noted the Capital outturn for 2022-23 (Appendix A)

• noted the actual Prudential and Other Indicators for 2022-23 (Appendix B)