Issue - meetings

To agree the Capital Strategy for 2022 to 2027, as recommended by the Corporate Policy and Resources Committee.

Council considered the Capital Strategy 2021/22 to 2025/26 Report that sought approval of the following:

1.    The Capital Strategy as set out in the report,

2.    That all development and investment projects, along with all significant projects follow the previously approved business case governance process as set in in Section 11 of the report,

3.    That no financing resources, unless stipulated in regulations or necessary agreements, are ring fenced,

4.    The Council plans to continue its use of capital receipts to fund the revenue costs of eligible proposals (subject to full business cases for each project),

5.    The financing of the Capital Programme and revenue implications as st out in Section 14 of the report and;

6.    The financing of the Capital Programme being delegated to the Corporate Policy & Resources Committee to provide sufficient flexibility to allow for the most effective use of Council resources.

It was proposed by Councillor L Nichols and seconded by Councillor J Sexton and resolved to agree the Capital Strategy for 2021/22 to 2025/26.

To consider the Capital Strategy for 2022 to 2027 and make a recommendation to Council.

The Committee:

1.    Recommended that the Capital Strategy as set out in the report (subject to various highlighted elements of the Strategy being completed), be approved by Council on 24 February 2022.

2.    Agreed that all development and investment projects, along with all significant projects, follow the previously approved business case governance process as set out in section 8 of the report.

3.    Agreed that financing sources, unless stipulated in regulations or necessary agreements, not be ring-fenced.

4.    Agreed that the council plan to continue its use of capital receipts to fund the revenue costs of eligible proposals (subject to a full business case for each project).

5.    Agreed the financing of the capital programme and revenue implications as set out in section 13 of the report.

6.    Agreed the financing of the capital programme being delegated to the Corporate Policy and Resources Committee to provide sufficient flexibility to allow for the most effective use of Council resources.

The proposed Capital Strategy was presented to the committee.  A key change was the inclusion of a 50-year forecast, which had been introduced because of the Council’s significant number of long term investments.  The document was still in draft form and would be considered by Council at its meeting on 24 February 2022.

The committee welcomed the changes and asked that regular monitoring be undertaken by the Corporate Policy and Resources, and Audit Committees as appropriate.  Discussions would be had with the Council’s Internal Audit team to ensure that the strategy had reference to the Council’s Risk Strategy and associated Risk Register.

The Committee:

1.    Recommended that the Capital Strategy as set out in the report (subject to various highlighted elements of the Strategy being completed), be approved by Council on 24 February 2022.

2.    Agreed that all development and investment projects, along with all significant projects, follow the previously approved business case governance process as set out in section 8 of the report.

3.    Agreed that financing sources, unless stipulated in regulations or necessary agreements, not be ring-fenced.

4.    Agreed that the council plan to continue its use of capital receipts to fund the revenue costs of eligible proposals (subject to a full business case for each project).

5.    Agreed the financing of the capital programme and revenue implications as set out in section 13 of the report.

6.    Agreed the financing of the capital programme being delegated to the Corporate Policy and Resources Committee to provide sufficient flexibility to allow for the most effective use of Council resources.

To review the draft Capital Strategy 2022 to 2027 before considering a final version at the meeting being held on 7 February 2022.

The draft Capital Strategy 2022-27 was noted.