Agenda item

Report of the Executive Director, Resources and Governance

The Executive Director of Resources and Governance submitted a report (previously circulated) requesting that consideration be given to the Council’s Capital Strategy for 2025/26.

The submitted report stated that the revised Prudential Code for Capital Finance in Local Authorities 2024 required every Council to publish a Capital Strategy and review it on an annual basis. It was reported that the revised Code emphasised the need to ensure capital expenditure was prudent, proportional, affordable and sustainable, and that greater emphasis was placed on the long-term implications of capital expenditure on the revenue budget and the delivery of the Council’s policy objectives.

The submitted report stated 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 Strategy also highlighted the resource streams available in terms of funding to the Council and the risk management approach taken. 

The submitted report highlighted 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 2025/26, 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 2024.

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