Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: No

Date of Decision: February 17, 2025

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

Content: 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