As Deputy Leader and Cabinet Member for Finance, Corporate and Traded Services, I agree to:
1. note the £28.8 million estimated impact on capital budget spend in the Medium-Term Financial Plan of £339.3 million across the capital programme for 2022-23, were already approved via key decision or covered by appropriate delegated authority to be funded from the options identified;
2. consider the use of Fluctuation clauses when deemed necessary to control costs to KCC and alleviate adverse effects to the main contractor supplier of the rise in material costs; and
3. delegate authority to the Director of Infrastructure or the Corporate Director of Growth, Environment and Transport (for Highway Schemes), in consultation with the Corporate Director of Finance and the Deputy Leader and Cabinet Member for Finance, Corporate and Traded Services, to take the necessary actions, including but not limited to entering into contracts and other necessary documentation to enable the delivery of the capital programme taking into account construction and inflation where existing Record of Decisions levels are needed to be adjusted.