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The Cabinet considered a report in respect of
the Capital Strategy 2025/26 – 2029/30 for onward
recommendation to Council.
 
The Portfolio Holder for Resources and
Performance advised that £7.9?million of new capital growth
bids were recommended following detailed review by Officers and the
Council’s Cross Party, Financial Security Group (CFSG).
 
The Strategic Director and Chief Finance
Officer advised that the ability to invest in capital was as a
result of the fair funding deal and that a significant amount of
the Councils borrowing related to the self
financing deal and the 30 year Business Plan.  She was pleased to report that the improved
financial position allowed improvements in assets such as the
Theatre to be funded.
 
Members welcomed the 27 supported schemes and
endorsed the overall funding approach, which together safeguarded
key operational assets, maintained financial resilience, and
ensured the deliverability of the Council’s longer?term
regeneration objectives.
 
In particular, Members welcomed:
 

·        
The replacement of the Ridlins athletic
running track;

·        
Improvements to the Gordon Craig Theatre including carpets and
lighting;

·        
The new Sports and Leisure Centre;

·        
The proposed new sign for Fairlands Valley Park;

·        
Refurbishment of play equipment across the Town.
 
It was RESOLVED:
 
1.   
That the final General Fund growth bids identified for inclusion in
the Capital Strategy (section 4.2, and Appendix A to the report) be
approved totalling £7.9Million for 2026/27-2028/29.
 
2.   
That the Final General Fund Capital Budget for 2025/26 to 2029/30
of £118Million, as set out in Appendix B to the report be
approved.

3.   
That the forecast of and approach to resourcing the General Fund
capital programme as outlined in the report (Paragraph 4.4) be
approved.

4.   
That the revenue contribution to capital, 2026/27 to 2028/29 as set
out in table 4, paragraph 4.3.4 be approved of £4.6Million to
fund the capital programme. 

5.   
That the proposed use of Community Infrastructure Levy (CIL), and
Biodiversity Net Gain (BNG) contributions of £225k as set out
in section 4.6 be approved.

6.   
That the approved revenue surplus in any year of up to £500K
that can be allocated to the capital reserve to support capital
expenditure be noted.

7.   
That the comments from Council Financial Security Group and
Overview and Scrutiny Committee as set out in section 4.11 be
noted.

8.   
That the legal implications of Section 24 of the Local Government
and Public Involvement in Health Act 2007 in relation to financial
decisions (capital) made by a council that is due to be abolished
or reorganised in section 5.2 be noted.