Issue - meetings

To consider a joint report of the Leader of the Council and Cabinet Member for Devolution and the Deputy Leader of the Council and Cabinet Member for Resources, Commissioning & Governance.

The Deputy Leader of the Council and Cabinet Member for Resources, Commissioning & Governance (Councillor Tom McGee) submitted a report (copies of which had been 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 – (61 for) That approval be given to:-

·         The Capital Strategy 2020/21; and,

·         Capital Prudential Indicators:

o   Capital expenditure forecasts;

o   Capital Financing Requirement projections; and

o   Ratio of financing costs to net revenue stream.

To consider a joint report of the Leader of the Council and Cabinet Member for Devolution and the Deputy Leader of the Council and Cabinet Member for Resources, Commissioning & Governance.

This report proposes the 2020/21 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 the 2020/21 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 that the Council Meeting approves:

·         The Capital Strategy 2020/21; and,

·         Capital Prudential Indicators:

o   Capital expenditure forecasts;

o   Capital Financing Requirement projections; and

o   Ratio of financing costs to net revenue stream.

Officer Contact: Paula McDonald on 0161 474 4708 or email: paula.mcdonald@stockport.gov.uk

The Leader of the Council and Cabinet Member for Devolution submitted a report (copies of which had been circulated) inviting the Cabinet to consider the 2020/21 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 2020/21 Capital Strategy, the Council Meeting be recommended to approve:-

·         The Capital Strategy 2020/21; and,

·         Capital Prudential Indicators:

o   Capital expenditure forecasts;

o   Capital Financing Requirement projections; and

o   Ratio of financing costs to net revenue stream.