Issue - meetings

Report of the Deputy Section 151 Officer attached.

RESOLVED (Unanimously) that:

1.    Cabinet approves the Capital Strategy detailed in Appendix 1and recommend its approval to Council;

2.    Cabinet approves the funding arrangements for the Capital Strategy and recommend its approval to Council;

3.    Cabinet notes the implications of using debt to fund the Strategy and the implications of future revenue budgets; and

4.    Cabinet agrees to the implications of the Capital Strategy being incorporated into the Corporate Risk Register.

The Deputy Section 151 Officer presented the Council’s five year Capital Strategy 2018/19 to 2022/23 and how it was funded. The implications of the strategy were reflected in the Council’s 2018/9 Budget and the Medium Term Financial Strategy (MTFS).  The strategy was an ambitious and deliverable key part of the Council’s Corporate Planning process setting out the major capital expenditure to deliver its ambitions and services for residents.

It was acknowledged that Penwortham Holme had suffered from flooding and other issues and it was confirmed that remedial works were programmed in 2017/8.

Decision Made (Unanimously) that:

1.    Cabinet approves the Capital Strategy detailed in Appendix 1 and recommend its approval to Council;

2.    Cabinet approves the funding arrangements for the Capital Strategy and recommend its approval to Council;

3.    Cabinet notes the implications of using debt to fund the Strategy and the implications of future revenue budgets; and

4.    Cabinet agrees to the implications of the Capital Strategy being incorporated into the Corporate Risk Register.

Reasons for the Decision:

The report was part of the overall financial strategy for the Council for the next 5 years that would enable delivery of the Corporate Plan ambitions. It sets out a clear affordable programme and the revenue implications were part of the Medium Term Financial Strategy to be recommended to Council.

Alternative Options Considered and Rejected:

There was no alternative, to support the Corporate Plan the Council needed to have a Capital Strategy in place.