Content

The Executive considered a report in respect
of the draft Capital Strategy for 2023/24 – 2028/29.
 
It was RESOLVED:
 
1.         
That the Revised General Fund Capital Budget for
2024/25 of £33.6Million, as set out in Appendix B to the
report, be proposed for consultation purposes.

 
2.         
That the Draft Housing Revenue Account (HRA) Capital
Budget for 2024/25 of £54.9Million, as set out in Appendix C
to the report, be proposed for consultation purposes.
 
3.         
That the updated forecast of resources 2024/25 be
approved, subject to the consultation process (set out in the
report at Section 4.4 – General Fund, and Section 4.10
– HRA)..
 
4.         
That the General Fund capital budget re-profiling of
£2.6Million from 2023/24 to future years be approved (as set
out in Paragraph 4.1.4 of the report).
 
5.         
That the General Fund capital budget savings (as set
out in Paragraphs 4.1.3 and 4.1.5 of the report) be
approved.
 
6.         
That the approach to resourcing the General Fund
capital programme, as outlined in the report (Paragraph 4.4), be
approved.
 
7.         
That the General Fund growth bids identified for
inclusion in the Capital Strategy (as set out in Paragraph 4.2 and
in Appendix A to the report) be approved in principle.
 
8.         
That the HRA budget increases identified for
inclusion in the Capital Strategy (as set out in Section 4.9 and
Appendix C to the report) be approved.
 
9.         
That the approach to resourcing the HRA capital
programme, as outlined in the report (Paragraph 4.10), be
approved.
 
10.     
That HRA capital budget re-profiling of
£1.45Million from 2023/24 to future years be approved (as set
out in Paragraph 4.9.3 of the report).
 
11.     
That the HRA growth bid (IT £21,000)
identified for inclusion in the Capital Strategy (as set out in
Paragraph 4.9.4 of the report) be approved in principle.
 
12.     
That the 2024/25 de-minimis expenditure limit (set
out in Section 4.11 of the report) be increased from £7,500
to £9,999.
 
13.     
That up to £500,000 of any revenue surplus in
any year can be allocated to the capital reserve to support capital
expenditure be approved.
 
Reason for
Decision:  As contained in report.
Other Options
considered:  As contained in report.