To consider a report of the Borough Treasurer.
The Leader of the Council and Cabinet Member for Policy, Finance & Devolution (Councillor Alex Ganotis) submitted a report (copies of which were circulated) providing a high-level overview of how capital investment
decisions contributed towards the provision of services.
It also set out the long-term context in which capital expenditure and investment decisions were made, giving due consideration to both risk and reward and impact on the achievement of priority outcomes.
RESOLVED – (54 for) That approval be given to:-
· Capital Prudential Indicators:-
o Capital expenditure forecasts;
o Capital Financing Requirement projections; and
o Ratio of financing costs to net revenue stream.
· The Capital Strategy 2019/20
To consider a joint report of the Leader of the Council and of the Cabinet Member for Reform & Governance.
This report proposes the 2019/20 Capital Strategy, which is written in accordance with the CIPFA Prudential Code.
The Strategy provides a framework for the Council’s capital investment plans, ensuring effective planning, option appraisal, risk management and governance processes. It is a high-level overview of capital investment offering Members sufficient details to understand how stewardship, value for money, prudence, sustainability and affordability will be secured.
The report includes details of the 2019/20 Capital Programme and sets out the prudential indicators, which demonstrate that the Council’s capital investment plans are affordable, prudent and sustainable. In addition, future plans in key areas of major capital investment have been included.
The Cabinet is asked to recommend to the Council Meeting that it approve:
• Capital Prudential Indicators:
- Capital expenditure forecasts;
- Capital Financing Requirement projections; and,
- Ratio of financing costs to net revenue stream.
• The Capital Strategy 2019/20
Officer contact: Jonathan Davies, 0161 218 1025, firstname.lastname@example.org
The Leader of the Council and Cabinet Member for Policy, Finance & Devolution submitted a report (copies of which had been circulated) inviting the Cabinet to consider the 2019/20 Capital Strategy, developed in accordance with the CIPFA Prudential Code, which provided a framework for the Council’s capital investment plans.
RESOLVED – That in relation to the 2019/20 Capital Strategy, the Council Meeting be recommended to approve:-
(i) Capital Prudential Indicators
· Capital expenditure forecasts;
· Capital Financial Requirements projections; and
· Ratio of financing costs to new revenue stream.
(ii) The Capital Strategy 2019/20.