Agenda item

Report of the Managing Director

The Leader and Cabinet Member with the Efficiency and Resources Portfolio introduced the report of the Managing Director (previously circulated), requesting that consideration be given to the Council’s proposed Capital Strategy (also previously circulated) for 2019/20,

The submitted report stated that following the publication of the revised Prudential Code for Capital Finance in Local Authorities 2017, all Councils were required to produce a Capital Strategy from April 2019.  It was reported that the strategy provided an overview of how capital expenditure and financing plans were decided upon; provided the framework for the development, management and monitoring of the Council’s capital investment plans; focused on core principles that underpinned the Council’s four year capital programme and governance framework that were in place; and that it maintained links to the Council priorities and to its key strategy documents, including the Treasury Management Strategy, Medium Term Financial Plan and the Corporate Plan.

RESOLVED – That it be recommended to Council that the Capital Strategy for 2019/20 to 2022/23, as appended to the submitted report, be approved.

REASON – (a) To ensure the Council adopts the Prudential Code for Capital Finance 2017.

(b) The Strategy is approved by Council.