Resolved -

(1)       Council be requested to approve that:

a)    The Capital Investment Plan as set out at Appendix 2 is adopted. Commitments against reserve schemes and contingencies can only be made after a business case has been assessed by the Project Appraisal Group and approved by Executive.

b)   The Chief Executive, Strategic Directors and Directors enter into commitments on capital schemes within the Capital Investment Plan subject to approval of business cases by Executive up to the approved amounts each year except that, where it is indicated that schemes are funded or partly funded from specific resources such as capital grants or contributions, revenue or capital receipts, the approved amount will be subject to the securing of those resources and be adjusted to reflect the amounts actually received.

c)    Where necessary, the payments arising under the Capital Investment Plan are met from loans.

d)   In order to provide the flexibility necessary to manage effectively the Capital Investment Plan, the Chief Executive, Strategic Directors and Directors be specifically empowered to advance or defer approved schemes subject to consultation with the Strategic Director Corporate Services and the availability of resources.

e)    Additional capital schemes shall only commence where the scheme is wholly funded from specific resources on the approval of the Strategic Director Corporate services in accordance with Financial Regulations.

(2)       The Borrowing Limits and Prudential Indicators as set out in Appendix 1 are adopted by the Council. 

(3)       The Minimum Revenue Provision (MRP) policy as set out in paragraph 3.2 of this report is approved and adopted by the Council.

ACTION:       Strategic Director Corporate Services

(Stuart McKinnon-Evans – 01274 432800)