Purpose

In presenting the 2024/25 draft
budget to Cabinet, the Flexible use of Capital Receipts Policy was
also presented for approval.
 
In April 2022 the Department
for Levelling Up, Housing & Communities (DLUHC) announced that
this initiative had been extended again. This time for the three
years from 1 April 2022 to 31 March 2025 although redundancy costs
are not now covered, except where such redundancy costs are
necessarily incurred and limited to the amounts available as
statutory redundancy payments.
 
As a result of the above the
revised policy was taken to Cabinet to be adopted.

Decision

Cabinet agreed the following: 
 
1. That the Flexible use of Capital Receipts
policy as presented be approved.

Reasons for the decision

There is a requirement to review, refresh and
approve this policy on an annual basis.

Alternative options considered

There are no options available to Members
other than to approve the policy, the alternative would remove any
flexibility available to us in terms of managing these types of
costs.