To agree the Capital Strategy for 2023 to 2024.
Note: Some agenda items being discussed at Corporate Policy and Resources Committee on 20 February 2023 may impact on this report and it may require updating to account for that Committee’s decision after the meeting.
Council considered a report which sought approval of the Capital Strategy 2023 to 2024.
Council resolved to agree the Capital Strategy 2023 to 2024.
To make a recommendation to Council that the recommendations outlined in the report are approved.
The Committee considered a report on the Capital Strategy for 2023 to 2024.
The Committee resolved to make a recommendation to Council that they approve 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 out in the report,
3. That no financing sources, unless stipulated in regulations or necessary agreements, are ring fenced,
4. The Council plans to continue its use of capital receipts to fund the costs of eligible proposals (subject to full business cases for each project),
5. The financing of the Capital Programme and revenue implications as set out in this 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.