Agenda item

Report of the Chief Officers Executive

The Chief Officers Executive submitted a report (previously circulated) requesting that consideration be given to the Council’s Capital Strategy for 2021/22, which incorporated the capital programme priorities for approval.

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 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 – (a) That the Capital Strategy for 2021/22–2024/2025, as detailed in Appendix 1 of the submitted report, be approved.

(b) That the Capital Programme, as detailed in Appendix 2 of the submitted report, with the priorities summarised in Annex A, be approved.

(c) That a delegation for Cabinet to vary the capital programme for 2021/22 by up to £0.5m without further Council approval, be approved.

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

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

(c) The Strategy is approved by Council.