To consider a report of the Executive Member for Finance and Governance and the Director of Finance and Systems.

The Executive Member for Finance and Governance and the Director of Finance and Systems submitted a report which highlighted the Council’s investment plans for the next three years taking into account the estimated resources to be made available from Government as well as the Council’s own resources; and which consisted of Capital Strategy (Appendix 1), General Capital Programme (Appendix 2 – Section 1), Asset Investment Fund (Appendix 2 – Section 2), Prudential and Local Indicators (Appendix 3), Details of Block Budget Allocations (Appendix 4) and Asset Investment Strategy (Appendix 5). An opportunity was provided for Members to raise questions, which centred on risk levels associated with the refreshed Asset Investment Strategy.

          RESOLVED -

(1)      That approval be given to:

·       The Capital Programme as detailed in Appendix 2 to the report.

·       Schemes to be undertaken from the “block” budget allocations reported in paragraph 21 and detailed Appendix 4 of the report.

(2)      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.