Purpose

To consider the report of the Cabinet Member for Finance and Resources detailing the General Fund Capital Programme 2025/26 to 2030/31.

Decision

To recommended to Council:

(i)  The Capital Strategy, as detailed in Appendix 1.

(ii)  The Minimum Revenue Provision (MRP) Strategy as detailed in Appendix 2.

(iii)  The Non-Treasury Investment Strategy as detailed in Appendix 3.

(iv)  The Treasury Management Strategy as detailed in Appendix 4.

(v)  The revised fully funded General Fund Capital Programme, that totals £363.9M and the associated use of resources (as detailed in paragraph 16). The Housing Revenue Account capital programme is set out elsewhere on the agenda.

(vi)  The addition and approval to spend of £52.2M to the General Fund programme. These additions are detailed in paragraphs 27 to 49 and Appendix 5.

(vii)  The addition of £47.5M to the General Fund programme. These additions are detailed in paragraphs 27 to 49 and Appendix 5.

(viii)  The removal of schemes from the capital programme totalling £3.0M, set out in paragraph 50 and detailed in Appendix 5.

(ix)  The Flexible Use of Capital Receipts Strategy as detailed in Appendix 7.

Reasons for the decision

1.  The Constitution requires the Executive to recommend budget proposals for the forthcoming year to Full Council to enable the annual setting of council tax. The recommendations in this report set out the elements of the budget that Cabinet must consider and refer to Council for approval.

2.  The Prudential Code also requires authorities to produce a Capital Strategy, which must be approved by Council.

3.  The Council’s Capital Programme is reviewed quarterly as part of the Medium Term Financial Strategy and in line with the Capital Strategy. Updates are reported to Cabinet and Council for approval, enabling new schemes to progress and changes to be incorporated. Given that major capital projects span several years, a clear five?year programme allows works to be scheduled and funded appropriately.

Alternative options considered

No alternative options, given the requirements outlined in paragraphs 1 and 2.