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RESOLVED:
 
1.1.         
Approve the Council’s 2023-29 General Fund
Capital Programme which includes planned expenditure of
£479.68m (including capitalisation directions) across the six
years.

 
1.2.         
Approve the Council incurring nil General Fund
borrowing for financial years 2023-24 and 2024-25 and borrowing of
£164.67m over 2025-29. The cost of this future borrowing is
factored into the Council’s Medium Term Financial
Strategy.

 
1.3.         
Approve the 2024-25 Housing Revenue Account (HRA)
Capital Programme with investment planned of £57.24m with
borrowing of nil.

 
1.4.         
Approve an increase to the 2023-24 HRA capital
budget from £33.248m to £37.162m, owing to increased
major repairs and improvements, with this £3.914m increase
funded by HRA reserves.

 
1.5.         
Approve the Council’s Capital Strategy, as
detailed within Appendix A of this report.

 
1.6.         
Note the Council’s historic legacy borrowing
and debt burden continues to be critical to the sustainability of
the Council’s revenue budget. Dialogue with the Department
for Levelling Up, Housing and Communities (DLUHC) continues, and
the Council is seeking further financial support from Government
in regard to its level of indebtedness
to ensure it can deliver sustainable local government
services.