Issue - meetings

It is a statutory requirement for local authorities to produce an annual Capital Strategy.  The Capital Strategy brings together the Council’s detailed policies, procedures and plans relating to cash investments and property assets. It incorporates the Treasury Management Framework, Prudential Indicators and Property Investment Strategy for 2020/2021.  

Recommendation

That the Executive recommends the Capital Strategy for 2020/2021, incorporating the Treasury Management Strategy, Prudential Indicators and Property Investment Strategy, to Council for approval.

61.1    Cllr Merryweather presented the Capital Strategy 2020/2021, which incorporated the Treasury Management Strategy, Prudential Indicators and Property Investment Strategy. The Capital Strategy accorded with the CIPFA Prudential Code for Capital Finance in Local Authorities and the Council was required to approve the Capital Strategy annually.

61.2    The Executive RESOLVED to recommend the Capital Strategy for 2020/2021, incorporating the Treasury Management Strategy and Property Investment Strategy, to Council for approval.

Reason: The Council has to comply with The Prudential Code for Capital Finance in Local Authorities (the Code) issued by CIPFA which requires local authorities to determine capital expenditure and investment decisions that are affordable, prudent and sustainable, and to set limits on the amount they can afford to borrow in the context of capital planning. This requires effective strategic planning and a decision making framework that is provided by the Capital Strategy.