Agenda item

The report, which updated the Capital Strategy approved by the Authority in 2015, was presented by the Head of Finance.

In response to questions from Members, Officers advised the following:

·         Data had not been received regarding planned cycle hire investment.

·         Environmental considerations such as sustainability were an important factor which was considered in the management of the Authority’s assets, for example, IT equipment was sent to be refurbished and reused.  Officers intend to develop thinking around making properties for disposal more sustainable.

·         All of the money from disposals on the Warslow Estate would be invested back into the estate.  The planned disposals represented less than 10% of the total value of the estate.

·         An amendment should be made to principle 2 of the Capital Strategy Key Principles, to include mention of the National Park Management Plan.

·         Investment in the Capital Strategy was targeted towards assets which are owned by the Authority.

·         The Capital Strategy excludes the work which was being done on the trails.  Future trails works would likely be funded from revenue in most years.

·         Ash Die Back remediation works were not included as capital work at present.

A motion to approve the report, subject to an amendment to recommendation 2 stating “with the detailed wording being delegated to the Chief Executive in consultation with the Chair of the Authority” was proposed and seconded, put to the vote and carried.

RESOLVED

1.    To approve the Capital Budget for 2023/24 at Appendix 1 of the report.

2.    To approve the four key principles of the Capital Strategy at Appendix 2 of the report, with the detailed wording being delegated to the Chief Executive in consultation with the Chair of the Authority.

3.    To note the overall Capital Programme at Appendix 3 of the report, and that projects will be subject to individual authorisations as per financial regulations.

4.    To note that future capital strategy reports will be combined with the Treasury   Management report and reviewed annually