Purpose

Cabinet is recommended to
approve the Council’s Capital Investment Strategy 2024/25 -
2034/35.

Content

Cabinet:

(1)         
agreed the Capital Investment Strategy 2024/25
– 2034/35, attached as Appendix 1 to the report.

(2)         
noted that the Strategy will be reviewed and
refreshed annually and reported to Cabinet for approval, supporting
its overall Budget setting process;

(3)         
agreed that no financing sources, unless stipulated in regulations
or necessary agreements, are ringfenced; and

(4)         
noted
that the financing of the capital programme is
delegated to the Strategic Director of Resources to provide
sufficient flexibility to allow for the most effective use of
Council resources. 

 

Options & Alternatives Considered

This Capital Investment Strategy is a requirement of CIPFA’s
Prudential Code, which supports the council’s strategic
financial planning. As such, there is no alternative option to be
considered. Officers recommend that this strategy is the best way
of meeting these requirements. Failure to produce a robust Capital
Investment Strategy could result in sub-optimal investment
monitoring and outcomes for the council and the borough.