Update on the Five-Year Capital Programme and Strategy Report 2026/27 -2030/31

Report title: Five Year Capital Programme and Strategy Report 2026/27 - 2030/31

Presented by: Councillor Chris Wilkins, Cabinet Member for Finance

Summary:

Cabinet:

1.         Agreed to recommend to Council for consideration and approval the 2026/27 Capital programme of £391m and £1,050m over the full five-year period from 2026/27 to 2030/31.

2.         Agreed to recommend to Council for consideration and approval the new capital projects being added to the capital programme for 2026/27 as set out in section 2.3 of this report.

3.         Noted any additional capital needs over and above what is specified in the capital programme for the relevant year will require separate business cases and be agreed by the Strategic Director of Resources (S151 Officer), Capital Strategy manager and Council Members as required and appropriate before being agreed by full Council.

4.         Approved that the Strategic Director of Resources (S151 Officer) be authorised to allocate funding from the Capital Contingency included within the draft Capital Programme.

5.         Noted that externally funded schemes can be added to the capital programme up to £500k as and when funding is confirmed.

6.         Approved the capital strategy contained within this report noting its impact on both the capital programme and the financial implications for setting the revenue budget for 2026/27 to 2030/31.

7.         Approved the Minimum Revenue Provision Policy Statement (section 9 of this report) which determines the amount of money set aside each year for the repayment of debt

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