Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: No

Date of Decision: February 18, 2026

Purpose: To approve the Capital Programme 2025-2026 to 2029-2030 Quarter Three Review and 2026-2027 to 2030-2031 Budget Strategy.

Content: That Council be recommended to approve: 1.      The updated City of Wolverhampton Capital Investment Strategy.   2.      The updated City of Wolverhampton Flexible Use of Capital Receipts Strategy.   3.      The revised, medium term General Fund capital investment programme of £395.5 million, an increase of £58.4 million from the previously approved investment programme, and the change in associated resources.   4.      The revised, medium term Housing Revenue Account (HRA) capital investment programme of £577.8 million and the change in associated resources.   That Cabinet approved: 1.      The virements for the General Fund capital investment programme detailed at Appendix 5 to the report for: i.       existing projects totalling £8.9 million.   ii.      new projects totalling £1.9 million.   2.      The establishment of supplementary budgets, funded from grant, for the General Fund capital investment programme detailed at Appendix 6 to the report for: i.       existing projects totalling £43.4 million.   ii.      new projects totalling £1.4 million.   3.      Continuation of both delegations to the Cabinet Member for Resources, in consultation with the Section 151 Officer, to approve the allocation of:   i.       The Corporate Provision and Contingency for Future Programmes budget to individual projects in order that corporate priorities may be addressed in an agile and timely manner.   ii.      The Transformation Development Efficiency Strategy to individual transformation projects in order to benefit from the capital receipts flexibility, which was extended to 2030, and in line with the Medium Term Financial Strategy.   4.      Delegated authority to the Cabinet Member for Resources, in consultation with the Section 151 Officer, to approve the allocation of the Revolving Capital Investment Fund budget to individual projects to ensure that priority interventions can be progressed in a timely manner.   5.      Continuation of the delegation to the Deputy Director of Assets, in consultation with the Section 151 Officer to approve virements from the provision for future projects budget held within the Corporate Asset Management capital investment programme to individual schemes, to recognise where urgent approval is required for capital works.   6.      Continuation of both delegations to the Cabinet Member for Children, Young People and Education, in consultation with the Executive Director of Families and the Section 151 Officer to approve the allocation of: i.       Expansion Programme budgets to individual capital investment projects, including adjustments between existing budgets and making grant payments where appropriate, in order that projects can be progressed in a timely manner.   ii.      High Needs capital investment programme – Future Schemes budgets to individual capital investment projects, including adjustments between existing budgets and making grant payments where appropriate, in order that projects can be progressed in a timely manner.   That Cabinet noted: 1.    There is a new project requiring additional external resources subject to a separate detailed report also on today’s agenda to Cabinet. The inclusion of this project into the capital investment programme is on the assumption that the approval to progress with the project is given. If the project is not approved, the capital investment programme would be amended accordingly. The report name is:   i.       Investment and delivery for Bilston – including Pride in Place Programme (Phase 1).   2.      Consistent with the Our Future Council Guiding Principles, that the capital investment programme (General Fund and HRA) will remain under constant review to identify opportunities to generate revenue budget savings. The outcome of this work would continue to be reported to Cabinet as part of the suite of quarterly financial monitoring reports.   3.      The Council continues to operate as usual, and reports subject to delegated authority may still progress during the period of preparing the report and it being considered by the Cabinet and Full Council. Where this situation arises, an update would be provided at the relevant meeting on any material changes to the information being presented.   4.      There is an upcoming decision on the forward plan for Cabinet on 18 March 2026 that may impact on the capital budgets presented in this report. However, as the financial implications of this report had not yet been finalised, it is not prudent at this time to include budgets for approval in this report. The report name is:   i.       Black Country Transport and Wolverhampton Major Transport Investment Programme 2026 – 2027.