Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Date of Decision: February 11, 2025

Purpose:

Content: The Cabinet considered a report of the Director of Corporate Services and Chief Finance Officer which sought approval for the 2025/26 Capital Investment and Disposal Strategy (‘The Strategy’), set out in Appendix 1 of the report, which outlined how the Council would meet the requirements of the relevant legislation, codes of practice and guidance that form the Prudential Framework, MHCLG Guidance on Local Authority Investments, and Public Works Loan Board (PWLB) Lending Terms.   The report author was in attendance to present the information and to address the questions and the comments of the Cabinet Members.   Resolved: 1.    That the annual Capital Investment and Disposal Strategy for 2025/26 be recommended to Council for approval with particular reference to: a)    The objectives of the Strategy contained in section 2 and Appendices; b)    The approach to and governance arrangements around property investment/development contained in section 5; c)    The additional limit to borrowing detailed in section 6.1.2 of the report; d)    The Council’s risk appetite and quantitative indicators set out in section 6.3 of the Appendix; 2.    That Members note the information of the Director of Corporate Services/Chief Finance Officer in terms of the affordability and risks associated with the Capital Investment and Disposal Strategy, as set out in the report.   Reason for decision: The report was produced to gain Cabinet Members’ approval of the Capital Investment and Disposal Strategy for submission to Full Council and to ensure that Cabinet Members were informed of and ensure adherence to the requirements of the Prudential Framework, MHCLG Guidance on Local Authority Investments, and PWLB Lending Terms.   Alternatives considered and rejected: There were no feasible alternatives – all proposals were in accordance with the revised CIPFA Prudential Code, which had been formally adopted by the Council and with Government guidance regarding Local Authority Investments.