Issue - meetings

Finance and Resources

To report the actual expenditure against budget for the Asset Management Plan in 2022/23 and to update the Asset Management Plan requirement for 2023/24.

Resolved

1.  That the expenditure for the year on Asset Management projects, as shown in Annex 1 to the report, be noted.

2.  That the updated budget for Asset Management projects in 2023/24, as shown in Annex 2 to the report, be approved.

Consideration was given to the report of the Finance and Resources Portfolio Holder, which compared the actual expenditure on Asset Management Plan (AMP) projects with the approved budget for 2022/23.

The total revised AMP budget in 2022/23 was £3.941M. Actual expenditure in the year was £2.508M, leaving an overall positive variance of £1.433M. The outturn position for 2022/23 had been reviewed, following which the AMP requirement for 2023/24 had been updated.

Having considered the options and for the reasons set out in the report, Cabinet agreed to the following:

Resolved

1.  That the expenditure for the year on Asset Management projects, as shown in Annex 1 to the report, be noted.

2.  That the updated budget for Asset Management projects in 2023/24, as shown in Annex 2 to the report, be approved.