Issue - meetings

A report from the Executive Director Resources is attached. (Key decision – reference number 5327)

Councillor Mary Maguire (Cabinet Member for Finance & Procurement) introduced the report of the Executive Director Resources setting out the 2022/23 Capital Strategy.

NOTED

1.    The main purpose of the Capital Strategy was to ensure the Council’s investment in capital projects supported the delivery of its corporate objectives.

2.    The strategy would facilitate long term financial planning and would provide a framework within which the Council’s investment plans could be delivered. It set out objectives and governance arrangements.

3.    A borrowing cap would be introduced and maintained.

4.    The capital programme would be funded from different sources as detailed in the report.

5.    Commercial activities were covered in the strategy. The Council would consider commercial capital investment opportunities where they met wider Council priorities.

6.    Local government had the power to generate economic growth and Enfield could play a part in getting the London economy going again.

Alternative Options Considered: 

None.

DECISION:  The Cabinet agreed to recommend to Council to approve the 2022/23 Capital Strategy attached in Appendix 1 to the report.

Reason:  NOTED the detailed reasons for the proposals as set out in paragraphs 9 to 12 of the report.

(Key decision – reference number 5327)