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.

Decision

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.