Decision Maker: Executive

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: March 3, 2025

Purpose: The Capital Strategy focuses on the core principles that underpin the Council’s capital programme and gives a position statement with regards to capital expenditure and the resources available. It also reviews the key issues and risks that will impact on the delivery of the Council’s capital investment plans and the governance framework required to support delivery of the Strategy.   The three-year capital programme that was approved in February 2024 was £154.56m. Progress against this programme has been reported to Executive throughout the financial year as part of the budget monitoring report.   The three-year Capital Programme 2025/28 and update of available resources is detailed in Section 2. This gives a proposed General Capital Programme of £142.24m for the next three years and an Asset Investment Programme of £166.38m to give a total capital programme of £308.62m.

Content: 1)    That the Capital Programme as detailed in Section 2 and Appendix 1 be approved   2)    That the schemes to be undertaken from the “block” budget allocations reported in paragraph 14 and detailed Appendix 2 be approved.   That it be recommended that the Council approve:   3)    The Capital Strategy including prudential and Local Indicators in section 1.   4)    The overall Capital Programme in the sum of £308.62m for the period 2025/28 comprising £142.24m in respect of the General Capital Programme (as detailed in Section 2) and an Asset Investment Strategy gross expenditure budget of £166.38m for the period 2025/28 and continues to work within the previously approved budget envelope of £500m.   5)    The flexible use of capital receipts as detailed in Capital Strategy (Section 2 paragraph 9).   6)    Additional borrowing of £4.69m to be included within the three-year programme, as detailed in Section 2 paragraph 6.