Issue - meetings

To submit the report of the Director of Function (Resources)/Section 151 Officer.

It was resolved –

·      To note the progress of expenditure and receipts against the capital budget 2025/26 at Quarter 3.

·      To approve the additional schemes, amounting to £7.276m to the capital programme and amendments to funding, as per Appendix C, which will result in a revised capital budget of £66.945m for 2025/26.

The report of the Director of Function (Resources)/Section 151 Officer which set out the financial performance of the capital budget at the end of Quarter 3 2025/26 was presented for the Executive’s consideration.

Councillor Gary Pritchard, Leader introduced the Quarter 3 capital budget monitoring report noting that the capital budget remains tight and provides limited scope for discretionary spending beyond the maintenance of current assets.

The Director of Function (Resources)/Section 151 Officer reported that the capital programme for 2025/26 totals £66.945m following approved slippage, additional schemes and funding adjustments. By the end of December, 2025, £36.673m (55%) of the annual budget had been spent or committed, with the HRA having spent 63% of its annual budget. A year end underspend of £9.849m is forecast on the 2025/26 capital programme and budget with this being potential slippage into the 2026/27 capital programme. The associated funding will also slip into 2026/27. The main areas of forecast underspend and reasons for them are outlined  in section 4 of the report. Progress on the major grant funded projects is detailed in section 3 of the report.

Councillor Gary Pritchard, Leader highlighted the importance of grant funded capital projects and referred to a visit made the previous month to view Levelling Up funded schemes  in Holyhead. He noted the positive impact these upgrades will have on the town’s high street and thanked the Economic Development Service team and partner agencies for their collaborative work, emphasising the significant benefits such grant funded projects bring.

The Chief Executive drew attention to the Council’s dependency on grant funding for capital projects, noting that the application process is often competitive and requires capacity, expertise and substantial input. These grants remain vital to the Council and the island and the Levelling Up programme demonstrates the value of partnership working. However, the grants landscape is changing again with a period of uncertainty ahead. Safeguarding the expertise that can transfer between programmes as opportunities arise is essential and will be a focus in the coming months.

Councillor Carwyn Jones, Portfolio Member for Housing and Community Safety referred to HRA funded projects including new housing developments, renewal of existing housing and decarbonisation works all of which support local contractors and the wider local economy. A major project within the programme is the new extra care facility in Menai Bridge.

It was resolved –

·      To note the progress of expenditure and receipts against the capital budget 2025/26 at Quarter 3.

·      To approve the additional schemes, amounting to £7.276m to the capital programme and amendments to funding, as per Appendix C, which will result in a revised capital budget of £66.945m for 2025/26.