Decision Maker: Strategy and Resources Committee
Decision status: For Determination
Is Key decision?: No
Is subject to call in?: No
The Committee considered the report of the Director of Resources seeking Members’ approval of the:
· Capital Strategy 2021 / 22 (attached as Appendix1 to the report);
· Capital Project Bids (Appendix 2 to the report);
· minimum Revenue Provision (Appendix 3 to the report);
· the Investment Strategy (Appendix 4 to the report).
It was reported that the Capital Strategy had been prepared considering the future plans of the Council, ensuring that they were affordable and prudent. The Annual Investment Strategy had been updated in line with statutory requirements and good practice, having regard to the Council’s financial position, wider strategies, plans and aims and the advice of the Council’s external treasury advisor.
The Chairman detailed the work that the Finance Working Group had undertaken and thanked them for this. He then put the recommendation as set out in the report and this was duly seconded.
In response to a query the Director of Resources clarified that the Appendices to the report was the documentation that would be presented to the Council for consideration.
The Chairman, in response to a question, advised that Officers were looking at other revenue opportunities in relation to the parks area and the Finance Working Group would review these at the appropriate point.
The Commercial Manager reported that the two vehicles detailed in the Capital Projects bids were essential and advised how Officers had worked closely with the Finance Working Group to review and reduce capital monies being spent.
The Chairman moved the recommendations and these were duly agreed by assent.
(i) That the Capital Strategy (attached as Appendix 1 to the report) be approved;
(ii) That the Capital Project Bids (attached as Appendix 2 to the report) be approved;
(iii) That the Investment Strategy (attached as Appendix 3 to the report) be approved;
(iv) That the Minimum Revenue Provision Statement (attached as Appendix 4 to the report) be approved.
Publication date: 11/02/2021
Date of decision: 28/01/2021
Decided at meeting: 28/01/2021 - Strategy and Resources Committee