Agenda item

Report of the Managing Director

The Managing Director submitted a report (previously circulated) requesting that consideration be given to the Council’s proposed Capital Strategy for 2019/20.

The submitted report stated that the production of a Capital Strategy was a new requirement for Council’s from April 2019, following the publication of the revised Prudential Code for Capital Finance in Local Authorities 2017. 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.   

RESOLVED - That the Capital Strategy for 2019/20 – 2022/2023, as detailed in Appendix One of the submitted report, be approved;

REASONS - (a) To ensure the Council adopts the Prudential Code for Capital Finance 2017.

(b) The Strategy is approved by Council.