Agenda item

Report of the Group Director of Operations

The Group Director of Operations submitted a report (previously circulated) requesting that consideration be given to the Council’s Capital Strategy for 2024/25.

The submitted report stated that the production of a Capital Strategy was a requirement for Councils following the publication of the revised Prudential Code for Capital Finance in Local Authorities 2021. It was reported that the Strategy provided an overview of how capital expenditure and financing plans are decided upon, and provided a framework for the development, management and monitoring of the Council’s capital investment plans. The submitted report stated that the Strategy also highlighted the resource streams available in terms of funding to the Council and the risk management approach taken. 

The submitted report stated that the Strategy maintained a strong and current link to the Council’s priorities and to its key strategy documents such as the Treasury Management Strategy, Medium Term Financial Plan and the Council Plan.

RESOLVED – That the Capital Strategy for 2024/25, as appended at Appendix 1 of the submitted report, be approved.

REASONS - (a)To provide a framework for capital investments.

(b) To ensure the Council adopts the Prudential Code for Capital Finance 2021.

(c) To enable the Council to invest in its assets.