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Decision details

Capital Programme and Capital Strategy 2021/22

Decision Maker: Executive

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

This report considers the Capital Strategy for 2021/22, prior to its submission to the Council for approval.

 

Regulations require the Council to prepare and formally approve a Capital Strategy.  The document for 2021/22 is attached as Appendix A to this report for consideration by the Executive before being submitted to Council for approval.

 

The Capital Strategy gives a high-level overview of how capital expenditure, capital financing, asset management and treasury management activity contribute to the provision of services along with an overview of how associated risk is managed and the implications for future financial sustainability.

 

The main highlights in the Capital Strategy are:

 

i)    The level of capital expenditure estimated for 2021/22 is £32.2million.  The current estimate is that £16.4 million of this will be met by new borrowing.

 

ii)   A high-level review of future funding requirements has identified a capital funding requirement of £196 million.

 

iii) The Council’s commercial property portfolio has ab estimated value of £64.3million.

 

A separate report proposing the Treasury Management Strategy and Investment Strategy for 2021/22 will be presented at the February meeting of the Executive.

 

 

Decision:

RESOLVED that the Executive:

 

(a)  endorses the draft Capital Strategy for 2021/22, attached as Appendix A to the report;

 

(b)  approves the capital programme for the period 2020/21 to 2024/25, amounting to £86.2 million as set out in Annex 1 of the Capital Strategy; and

 

(c)  agrees to submit the Capital Strategy for 2021/22 to Council for approval

Report author: Caroline Hancock

Publication date: 06/01/2021

Date of decision: 04/01/2021

Decided at meeting: 04/01/2021 - Executive

Effective from: 16/01/2021

Accompanying Documents:

 

 




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