Cabinet agree the following:
1. That a 2021-22 General Fund capital virement to transfer budget totalling £55k to the ‘Berth 4/5 Replacement Project’ scheme for the development of the EIA be approved, to be funded from a £25k transfer from the ‘Replacement of Lead Lights at Port’ scheme and £30k transfer from the ‘Ramsgate Port & Harbour Utilities Supply upgrade’ scheme;
2. That a 2021-22 supplementary capital budget of £325,000 be approved for additional costs associated with the ‘Berth 4/5 Replacement Project’ scheme, to be funded from a £50,000 revenue contribution and £275,000 of borrowing, in accordance with Rule 4 of the Budget and Policy Framework Procedure Rules;
3. That additional revenue expenditure of £445,000 recognised in the 2020-21 accounts and financed from the Council’s earmarked reserves be approved, in accordance with Rule 4 of the Budget and Policy Framework Procedure Rules.