Decision status: For Determination
Is Key decision?: No
Is subject to call in?: Yes
The Capital Strategy focuses on the core principles that underpin the Council’s capital programme and gives a position statement with regards to capital expenditure and the resources available. It also reviews the key issues and risks that will impact on the delivery of the Council’s capital investment plans and the governance framework required to support delivery of the Strategy.
The three-year Capital Programme 2023/26 and update of available resources is detailed in Appendix 2. This includes specific reference to a number of budget areas which historically have had subsequent reports to Executive to approve the programme of schemes for these areas e.g.: - Public Building Repairs and Highway Programmes.
1) That the Capital Programme as detailed in Appendix 2 to the report be approved.
2) That the schemes to be undertaken from the “block” budget allocations reported in paragraph 21 and detailed Appendix 4 of the report be approved.
3) That it be recommended that Council approve:
· the Capital Strategy included in Appendix 1 to the report;
· the overall Capital Programme in the sum of £417.38m for the period 2022/25, comprising £187.23m in respect of the General Capital Programme and £230.15m for the Investment Fund and
· additional prudential borrowing of £50.52m as detailed in paragraph 12 of the report.
· the Prudential and Local Indicators as set out at Appendix 3 of the report.
· the Asset Investment Strategy included in Appendix 5 of the report.
· the flexible use of capital receipts of up to £0.27m to support the cost of the Modernisation Team in developing the Council’s Finance and Change Programme.
· the flexible use of capital receipts strategy as detailed in paragraph 16 of the report.
Publication date: 15/02/2023
Date of decision: 15/02/2023
Decided at meeting: 15/02/2023 - Executive
Effective from: 28/02/2023