Decision Maker: Executive, Council
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
The Executive RECOMMENDED to Full Council that the Capital Strategy and associated Capital Programme covering the period 2022/23 to 2025/26 be approved, including
(i) the new capital bids for £1.139 million, as set out in Appendix 1 to Annex A to the agenda report, for 2022/23 be approved, and that they be incorporated into the Capital Programme; and
(ii) The Prudential Indicators summarised below and explained in Annex A to the agenda report for 2022/23 to 2025/26 in accordance with the requirements of the Chartered Institute of Public Finance and Accountancy’s (CIPFA) Prudential Code for Capital Finance in Local Authorities 2011 be approved; and
Prudential Indicator |
2022/23 Proposed £m |
2023/24 Estimated £m |
2024/25 Estimated £m |
2025/26 Estimated £m |
Capital Expenditure |
1.139 |
1.428 |
1.428 |
0.928 |
Capital Financing Requirement |
174 |
171 |
167 |
164 |
Ratio of net financing costs to net revenue stream |
28.22% |
27.54% |
26.89% |
26.30% |
Financing Costs |
3 |
3 |
3 |
3 |
Operational Boundary |
230 |
230 |
230 |
230 |
Authorised Limit |
235 |
235 |
235 |
235 |
The Executive RESOLVED to note that
(i) the Capital Financing Requirement (CFR) for this Council as at 31 March 2023 be estimated to be £174 million and as such a Minimum Revenue Provision of £2.32m is required;
(ii) the provisional financing for Capital Programme for 2022/23 to 2025/26 (Table 2 in Appendix 1 to Annex A of the agenda report);
(iii) Potential reprofiling from 2021/22 of £8.499 million (Table 3 in Appendix 1 to Annex A of the agenda report); and
(iv) the available capital receipts forecast shown in Appendix 2 to Annex A to the agenda report.
Publication date: 18/02/2022
Date of decision: 15/02/2022
Decided at meeting: 15/02/2022 - Executive
Accompanying Documents: