Issue - meetings

RECOMMENDED:      That Council approve the Capital Strategy 2024/2025 as attached to the report.

Reason for Decision

Not to approve these policies would contravene the requirements of both legislation and good practice. In addition, the external auditors may comment in their report to those charged with governance (ISA260).

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The Assistant Director Resources presented the report on the Capital Strategy 2024/25 which outlined the principles and framework that shaped the Council’s capital decisions. The report explained that the principal aim was to deliver a programme of capital investment that contributed to the achievement of the Council’s priorities and objectives as set out in the Corporate Plan.

The Capital Strategy was updated annually and put before Cabinet alongside the

Treasury Management Strategy so that it could be approved before the year to which it related began.

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The Strategy defined at the highest level how the capital programme was to be formulated; it identified the issues and options that influenced capital spending and set out how the resources and capital programme would be managed.

The Assistant Director drew attention to the new element of the Strategy this year which included the loan facility for the Council’s Companies.

The Chair drew attention to the fact that Cabinet members were well acquainted with the suite of documents for the budget. Councillor Beales drew attention to the well attended Joint Panels meeting which held a good debate.

Under standing order 34 Councillor Ware commented that she was grateful for the sessions on the budget which were helpful, and thanked the Assistant Director for her assistance on budget matters.

RECOMMENDED:      That Council approve the Capital Strategy 2024/2025 as attached to the report.

Reason for Decision

Not to approve these policies would contravene the requirements of both legislation and good practice. In addition, the external auditors may comment in their report to those charged with governance (ISA260).