Agenda item

To note the forecast capital out-turn position and approve the virements and variations to the general fund and housing investment capital programme and the new capital bids for inclusion into the capital programme.

RESOLVED:

That the following be noted:

1.  The month 8 2024-25 forecast spend and resources and future years for both the general fund and housing investment programmes as detailed in Appendices A1 and C of the report.

2.  The alignment of the general fund capital programme to the Southwark 2030 priorities at Appendix A2.

3.  The significant borrowing requirement of £313m which needs to be identified for the general fund programme to be fully delivered over the remaining term of the programme, as detailed in Appendix A of the report.

4.  The significant borrowing requirement of £426m for the housing investment programme to be fully delivered over the remaining term of the programme, as detailed in Appendix C of the report.

That the following be approved:

5.  The virements and variations to the general fund and housing investment capital programme as detailed in Appendix D of the report.

6.  The new capital bids in Appendix E and F of the report for inclusion into the capital programme.