Issue - meetings

(a)       That the Capital Strategy be approved; and

(b)       That the following be approved:

·         The Prudential Indicators for 2022/23 – 2024/25 as detailed within Tables 1, and 4-7 inclusive of the Capital Strategy; and

·         Delegated authority be granted 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)

The Corporate Finance Manager introduced the report which sought approval of the Council’s Capital Strategy.  It explained the requirement for the Strategy, its key aims and the contents of each of its sections.

Under the Prudential Code for Capital Finance in Local Authorities (the Prudential Code), authorities were required to set a range of Prudential Indicators (PI’s).  The Capital Strategy included details of the Council’s Prudential Indicators for 2022/23 – 2024/25.

The key aims of the Strategy were to explain the ways in which the Capital Programme was developed and funded, the potential impact it had on the Council’s Medium Term Financial Strategy (MTFS) and the way in which it related to the Council’s Treasury Management Strategy.  The Strategy was an overarching document and referred to other documents such as the Capital Programme, the Treasury Management Strategy and the Minimum Revenue Provision Policy.  The Strategy was split into a number of sections which were outlined in the report.

The report had been submitted to Corporate Resources Overview and Scrutiny Committee and Cabinet and no issues had been raised.

The recommendations in the report were moved by Councillor Paul Johnson and seconded by Councillor Mullin.

Councillor Paul Johnson thanked officers for all of the work undertaken on the report which demonstrated the Strategy was well funded, proven and sustainable.

RESOLVED:

(a)       That the Capital Strategy be approved; and

(b)       That the following be approved:

·         The Prudential Indicators for 2022/23 – 2024/25 as detailed within Tables 1, and 4-7 inclusive of the Capital Strategy; and

·         Delegated authority be granted 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)