Decision details

To agree the Capital Programme and Strategy.

Cabinet:

1.             Will Recommend to Council for consideration and approval the 2021/22 and ongoing Capital Programme noting the changes in accessing new borrowing set out in section 1.3

2.             Agreed that the Chief Financial Officer be authorised to allocate funding from the Capital Contingency included within the draft Capital Programme.

3.             Agreed that externally funded schemes can be added to the capital programme up to £500k as and when funding is confirmed. Any external funding over £500k will be subject to approval by the Chief Financial Officer.

4.             Agreed that the relevant Cabinet Member, together with the Cabinet Member for Finance and Property be delegated authority to commence tender processes and accept tenders for capital schemes included within the approved programme.

5.             Approved the capital strategy contained within this report noting its impact on both the capital programme and overall contribution to the setting of the revenue budget for 2021/22 and beyond

6.             Noted the capital prudential indicators included within the capital strategy when approving the capital programme to ensure affordability.

7.             Agreed that the Chief Financial Officer be authorised to re-profile capital budgets mid-year based on the updated forecasts provided by services and reported to the Senior Leadership Team as part of the capital monitoring process. This will assist in producing more accurate information for treasury management purposes.