Issue - meetings

(a)       That the Committee recommends that Cabinet approves and recommends the Capital Strategy to County Council;

(b)       That the Committee recommends that Cabinet approves and recommends to Council:-

·         The Prudential Indicators for 2019/20 - 2021/22 as detailed within Tables 1, and 4 – 7 inclusive of the Capital Strategy.

·         Delegated authority for the Corporate Finance Manager to effect movements between the separately agreed limits within the authorised limit for external debt and the operational boundary for external debt (Table 6 of the Capital Strategy).

(c)       That the Committee has no specific issues for Cabinet to consider before the final Capital Strategy 2019/20 - 2021/22 report is considered by Council.

The Finance Manager, Technical Accountancy presented the updated Capital Strategy prior to submission to Cabinet.  The Strategy, which included details of the Council’s Prudential Indicators for 2019/20 - 2021/22, had been separated from the Asset Management Plan in order to best meet changes made to Chartered Institution of Public Finance and Accountancy (CIPFA) Codes of Practice.  The Asset Management Plan would be refreshed and shared later in the year.  The Strategy was an overarching document which brought together various strategies and policies, broken down into a number of sections.

Councillor Heesom asked how the item linked to the Capital Programme Monitoring report and the mechanism by which Members could seek deferral of a capital investment.  The Finance Manager highlighted the Governance section of the Strategy which set out the framework, with progress reported quarterly.  The Chief Executive spoke about the flexibility built into the Capital Programme and the difficulty of deferring investments in-year once the Programme had been approved.

RESOLVED:

(a)       That the Committee recommends that Cabinet approves and recommends the Capital Strategy to County Council;

(b)       That the Committee recommends that Cabinet approves and recommends to Council:-

·         The Prudential Indicators for 2019/20 - 2021/22 as detailed within Tables 1, and 4 – 7 inclusive of the Capital Strategy.

·         Delegated authority for the Corporate Finance Manager to effect movements between the separately agreed limits within the authorised limit for external debt and the operational boundary for external debt (Table 6 of the Capital Strategy).

(c)       That the Committee has no specific issues for Cabinet to consider before the final Capital Strategy 2019/20 - 2021/22 report is considered by Council.