Issue - meetings

To submit the report of the Director of Function (Resources)/Section 151 Officer.

It was RESOLVED to endorse and to recommend the Capital Strategy 2025 – 2030 to the Full Council.

The report of the Director of Function (Resources)/Section 151 Officer incorporating the Capital Strategy for 2025-20230 was presented for the Executive’s consideration.

Councillor Robin Williams, Deputy Leader and Portfolio Member for Finance and Housing Services said that the revised CIPFA Prudential Code (September 2017) introduced the requirement that all authorities must produce a capital strategy.  This must set out the long-term context in which capital expenditure and investment decisions are made.  The requirement is aimed at ensuring that authorities take capital and investment decisions in line with the service objectives, and properly consider stewardship, value for money, prudence, sustainability and affordability.  The capital strategy is linked to several other plans and strategies.  He noted that the strategy is dependent on grant funding, resources from Welsh Government and revenue budget available to spend on capital projects.

The Director of Function (Resources)/Section 151 Officer reported that the strategy is a summary of the capital investments.  He noted that the Capital Strategy is a key document to ensure that capital investment decisions are taken in a planned way, that allows the Council to achieve its key objectives whilst ensuring that the long-term viability of the Council is not put at risk.    He referred to the capital expenditure summary for 2025- 20230 as noted within page 26 of the report.  The revenue implications of the capital expenditure were set out in Page 29 of the report, and it was noted that the MRP is calculated based on the Council’s current MRP Policy.  The Director of Function (Resources)/Section 151 Officer further said that moving from the ‘Base Case’ scenario into the ‘Ideal’ scenario on projects is dependent on the revenue position of the Council. 

The Chief Executive said that it is imperative that the Council’s assets are safe for public use.  The Authority’s assets are ageing and there will be a need for integrated multi-use of these buildings and there will be a need to be working in partnership with third-party organisations.  He further said that attracting grants is paramount to allow assets to be develop and especially within the towns to bring more people to integrate into these areas.  

The Leader of the Council said that having capital strategy enables the Council to make mature decisions to invest in projects and buildings for future generations within local communities. 

It was RESOLVED to endorse and to recommend the Capital Strategy 2025 – 2030 to the Full Council.