The Director of Finance will submit a report (Document “DG”) which presents at Section A, the Council’s Capital investment Plan 2021-22 to 2024-25.

Section B presents an updated Capital Strategy for 2021-22. This strategy underpins the spending proposals within the Capital Investment Plan.

Section C presents the Investment Strategy for 2021-22. This provides an update to the Investment Strategy, with particular reference to recent Government announcements.

Recommended –

(1)       Executive are asked to note the contents of this report and to have regard to the information contained within this report when considering         the recommendations to make to Council on the CIP for 2021-22.

(2)       Commitments against reserve schemes and contingencies can             only be made after a business case has been assessed by Project           Appraisal Group and approved by Executive.

(3)       Delegated authority is given to Section 151 Officer to repay debt on an            annuity basis, for chosen properties purchased during or after 2018-19. Delegated authority could only be exercised if two conditions are met:

            1. the asset retains or increases its value;

2. the return from the capital scheme is sufficient to repay the          capital sum invested.

(4)       The proposed 2021-22 MRP policy set out in Appendix 2 is          approved

(5)       The Flexible Use of Capital Receipts Strategy is approved.

(6)       Specific approval be given for the following schemes previously           approved by Executive to commence following a detailed review           by Project Appraisal Group:

•           The 2021-22 Property Programme has a proposed total cost of £2.5m and this will be funded by the £2m allocated and the      movement of £0.5m from the Argus Chambers Property Scheme.

•           IT Processes and Systems – End to End Review. The scheme is for a planned programme of improvement work to systems and processes in Children’s Services. The cost of the capital spend is £0.330m and it will be funded by corporate borrowing.   

Overview and Scrutiny Committee: Corporate

(Chris Chapman - 01274 433656)

Resolved –

That it be recommended to Council:

(1)       That the report be noted and that the Executive had regard to the information contained within Executive Document “DG” in considering the recommendations to make to Council on the Capital Investment Plan for 2021-22.

(2)       That commitments against reserve schemes and contingencies            can only be made after a business case has been assessed by          Project Appraisal Group and approved by Executive.

(3)       That delegated authority be given to the Section 151 Officer to repay debt on an annuity basis, for chosen properties purchased during or after 2018-19. Delegated authority could only be exercised if two conditions are met:

            1. the asset retains or increases its value;

2. the return from the capital scheme is sufficient to repay the capital sum invested.

(4)       That the proposed 2021-22 MRP policy set out in Appendix 2 to             Executive Document “DG" be approved.

(5)       That the Flexible Use of Capital Receipts Strategy be approved.

(6)       That specific approval be given for the following schemes           previously approved by Executive to commence following a     detailed review by Project Appraisal Group:

•           The 2021-22 Property Programme has a proposed total cost of £2.5m and this will be funded by the £2m allocated and the      movement of £0.5m from the Argus Chambers Property Scheme.

•           IT Processes and Systems – End to End Review. The scheme is for a planned programme of improvement work to systems and processes in Children’s Services. The cost of the capital spend is £0.330m and it will be funded by corporate borrowing.   

ACTION: Director of Finance

Overview and Scrutiny Committee: Corporate

(Chris Chapman - 01274 433656)

The Director of Finance submitted a report (Document “DG”) which presented at Section A, the Council’s Capital investment Plan 2021-22 to 2024-25.  Section B presented an updated Capital Strategy for 2021-22. This strategy underpinned the spending proposals within the Capital Investment Plan.  Section C presened the Investment Strategy for 2021-22. This provided an update to the Investment Strategy, with particular reference to recent Government announcements.

The Director of Finance stated that essentially this was the same report that was presented to the Executive at its meeting on 2 February 2021, with the exception that an additional two capital schemes had now been assessed by the Project Appraisal Group, which required Executive approval.  Section A of the report set out the three-year capital programme, with the capital strategy and investments strategy set out in appendix B and C respectively.  All capital schemes underwent prudential monitoring and as the Section 151 officer, the Director of Finance stated that he was content that the programme was being managed prudently and efficiently.