Agenda item

The Interim Finance Manager was present for this report, which was to seek approval for the revised Capital Strategy for 2024/25 to 2027/28.

Members queried why there were no figures for the period 2026/27.  The Officer responded that this was a moving document and that there were no projects planned for that period as yet.

Members also queried as to whether the wording in recommendation 2 should say “To Note” rather than “Acknowledge” which would be a more accurate wording as the Members were not being asked for approval or authority to spend, just acknowledging the direction of travel for capital programmes and that business cases will be coming forward for those amounts in the future. There was also some confusion regarding recommendation 4 and whether it could be simplified. 

There was some question regarding climate change as it was stated in the report that there was no implications to identify, yet the Capital Strategy must have an implication in terms of our climate change impact depending in what we invest in, but it was assumed that the business cases for each individual project would address that and have its own climate change implications.

Members questioned why there appeared to be considerable expenditure next year, but not future years, was this because projects had not been found.  The Authority needs to plan where potential monies come from and how to look for and apply for funding, so the Authority can respond to opportunities that arise.  

The recommendations, as set out in the report, were moved, seconded, put to the vote and carried.

RESOLVED:

1.    Approve the Capital Budget for 2024/25 (listed in Appendix 1 of the report), with the understanding that projects in the ‘new’ and ‘additional’ columns will require a business case and approval to proceed.

2.    Acknowledge the overall Capital Programme for 2024/25 to 2027/28 (found in Appendix 2 of the report).

3.    Approve the Capital Strategy (listed in Appendix 3 of the report).

4.    Acknowledge that in future the Capital Strategy will be jointly presented with the Treasury Management Strategy for annual approval.