Decision details

The Executive considered a report in respect of the draft Capital Strategy 2021/22 – 2025/26.

It was RESOLVED:

1.     That the Draft General Fund Capital Budget for 2022/23 of £31.1Million, as set out in Appendix C to the report, be proposed for consultation purposes (subject to review by Leader’s Financial Security Group).

2.     That the Chief Financial Officer (CFO) brings a report forward during the 2022/23 financial year setting out the Council’s key capital regeneration and community asset ambitions and key land and asset disposals not currently included in the capital strategy, which could be used to meet these Corporate priorities.

3.     That the Draft HRA Capital Budget for 2022/23 of £64.7Million, as set out in Appendix D to the report, be proposed for consultation purposes.

4.     That the HRA Capital Budget be brought back to Executive in 2022/23 as part of the HRA Business Plan refresh.

5.     That the updated forecast of resources 2022/23, as detailed in Appendix C (General Fund) and Appendix D (HRA) to the report, be approved, subject to the consultation process.

6.     That the Council’s investment strategy for non-treasury assets, as detailed in Appendix E to the report, be approved for consideration by the Executive.

7.     That the approach to resourcing the General Fund capital programme, as outlined in the report, be approved.

8.     That the funding increase requested for the Bus Station project, as set out in Paragraph 4.1.2 of the report, be approved.

9.     That progress on Locality Reviews be noted.

10.   That progress on the Towns Fund be noted.

11.   That the General Fund growth bids identified for inclusion in the Capital Strategy (Paragraph 4.2.2, table five and Appendix A to the report) be approved in principle, subject to further review work on Capital Priorities being undertaken by officers and the Leader’s Financial Security Group.

12.   That the HRA budget increases identified for inclusion in the Capital Strategy (Paragraph 4.9.2, table ten and Appendix B to the report) be approved.

13.   That the 2022/23 de-minimis expenditure limit (Section 4.11 of the report) be proposed for consideration by the Executive.

14.   That the 2022/23 contingency allowances set out in Paragraphs 4.12.1 and 4.12.2 of the report respectively, be proposed for consideration by the Executive.

15.   That the Executive delegation set out in Paragraph 4.12.3 of the report, allowing the Executive to approve increases to the capital programme for grant funded projects, be proposed for consideration by the Executive.

Reason for Decision:  As contained in report.

Other Options considered:  As contained in report.