Purpose

The report sets out the proposed capital
programme up to 2038/39 and how this will be funded.

Decision

Cabinet approved the
following recommendations to Full Council for consideration at its
meeting on 5 March 2025:

·      
Approve the capital strategy as set out in this report.

·      
Approve the capital expenditure for the General Fund as set out in
Appendix A for 2025/26 to 2029/30 and future years to 2038/39.

·      
Agree that all development and investment projects, along with all
significant projects follow the previously approved business case
governance process as set out in this report.

·      
Approve that no financing sources, unless stipulated in regulations
or necessary agreements, are ring fenced.

·      
Approve the proposed financing of the capital programme and revenue
implications as set out in this report.

·      
Delegate authority to the Executive Director of Finance and
Resources for decisions surrounding financing of the capital
programme to provide sufficient flexibility to allow for the most
effective use of the Council’s resources.
 
Reasons for Decision: The Capital
Strategy for the coming years seeks to prioritise and co-ordinate
funding to achieve the Council’s Fairer Westminster policy
objectives; ensure that capital resources are directed to maintain
the Council’s statutory requirements
across its asset base; and manage investment effectively and
efficiently