Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: No

Date of Decision: February 25, 2026

Purpose: The 2021 Prudential Code requires Council to approve an annual Capital Strategy. This report includes both the 2026/27 Capital Strategy and the detailed ten-year capital programme and outcomes. The Capital Strategy underpins the development of the detailed capital programme and sets out how the proposed ten-year programme will support the delivery of the Enfield Council Plan.

Content: DECISION:   1.    The Cabinet agreed to recommend that Council:   a.    Approves the 2026/27 Capital Strategy. b.    Approves a Capital budget for 2026/27 of £476.4m (General Fund £334.1m including £185.3m temporary accommodation solutions, HRA £142.1m). c.     Approves the carry forward of £71.9m from the 2025/26 budget as requested at Quarter 3 (Appendix B2). d.    Notes the 10-year capital programme of £2.06bn (GF £1,190.5m, HRA £865.9m). e.    Approves a General Fund total capital receipts target of £130m; £50m for 2026/27 and £20m for each of the following 4 years, in addition to Meridian Water capital receipts. f.      Agree a debt strategy that keeps the Council’s General Fund borrowing requirement below £997m and aims for the Council’s borrowing levels to be about average when compared with other English local authorities. (see para 6). g.    Delegates authority to Cabinet to approve any further carry forward requests as part of the outturn process for 2025/26. h.    Delegates to Cabinet authority to add projects into the approved Capital Programme up to a total of £12m per annum (for example, from the Pipeline) and move borrowing-funded underspends between projects. i.      Delegates authority to the Council’s Section 151 Officer to transfer unspent borrowing-funded capital budgets of up to £500k between projects in the capital programme.   2.    The Cabinet agreed to note   a.    The 10-year programme of £2.06bn as detailed in Appendix B (of which 20% is forecast to be financed by borrowing). b.    The total Pipeline programme of £55.0m. c.     The 2026/27 Pipeline programme of £24.5m. d.    All projects in the Pipeline programme (including those that may be funded from the £12m delegation above), are subject to the approval of a financial appraisal and business case in accordance with capital programme governance. e.    The Capital programme assumes a general fund capital receipts disposal target of £130m between 2026/27 and 2030/31 (excluding Meridian Water capital receipts). The target for 2026/27 is £50m, of which £42.9m will be used to reduce the Council’s borrowing requirement (generating an interest saving of approximately £700k, which has been reflected in the MTFP). £9.4m will be used to fund transformational revenue spend under the Council’s Flexible Use of Capital Receipts (FUCR) Strategy (Appendix B8).