Issue - meetings

Council is asked to agree the Ten-Year Capital Strategy and Capital Programme for 2024/25 to 2033/34.

The recommendations in this report were put to the meeting under the guillotine arrangements and were AGREED.

The Opposition advised that they would have voted against the recommendation.

The Council agreed

I. To approve the:

a. General Fund 2024/25 capital programme budget of £213.1m and notes the 2024/25-2033/34 ten-year capital programme (as detailed in Appendix A)

b. 2023/24 £36.5m budget carry forwards requested at Period 8 (November) (as detailed in Appendix B)

c. Delegation of authority, to the Executive Director of Resources, to transfer unspent borrowing of up to £500k between projects in the capital programme, in consultation with the Cabinet member for Finance and Procurement.

d. Delegate authority to the Cabinet Member for Social Housing in consultation with the Cabinet Member for Finance and Procurement to agree capital investment into temporary accommodation solutions up to £30m (moving budget from Pipeline to the main capital programme). This is to enable the council to move quickly in bringing solutions to fruition. Any investment approved under this delegation must be self-financing i.e., capable of servicing interest and repaying debt over the useful economic life of the asset.

e. The delegation to Cabinet approval of projects up to £10m from the Pipeline Programme, provided the programme continues to fit within the affordability metrics.

II. To note:

a. The Pipeline projects (as detailed in Appendix E). These are indicative project budget estimates that are subject to a full business case review (where relevant) and separate approval, prior to be being added to the approved programme.