Decision details

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

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.