(NOTE: A copy of the report that was considered by the Strategy and Resources Committee held on 7 February 2022 is attached).

Council considered a report by the Director of Resources regarding the 10 Year Capital Strategy 2022 to 2032 (circulated previously).

The Director of Resources highlighted the following:

·       The Capital Strategy was a high level review of the corporate priorities, capital investment ambition, available resources, affordability and risk management in the context of ensuring the long term financial sustainability of this authority.

·       The Capital Strategy contained the medium (MTFS) and long term strategies in relation to capital funding and affordability.

·       The Capital Financing Requirement (CFR) was predicted to remain at a high level but would decrease over the longer term.

·       The cost for external borrowing was set to remain above £1.5m over the long term period.

Report by the Chief Financial Officer to Strategy and Resources on 7^th February 2022 (attached), and

(a) Minute Extract of Strategy and Resources on 7^th February 2022 (attached).

The Committee considered a report by the Director of Resources and Deputy Chief Executive (circulated previously) regarding the 10 Year Capital Strategy for 2022 to 2032 together with Minute Extract of Strategy and Resources on 7th February 2022.

The Director of Resources and Deputy Chief Executive highlighted the following:

·       The Capital Strategy was a high level review of the corporate priorities, capital investment ambition, available resources, affordability and risk management in the context of ensuring the long term financial sustainability of this authority.

·       The Capital Strategy contained the medium (MTFS) and long term strategies in relation to capital funding and affordability.

·       The Capital Financing Requirement (CFR) was predicted to remain at a high level but would decrease over the longer term.

·       The cost for external borrowing was set to remain above £1.5m for this period.

RESOLVED, that the decisions and recommendations of the Strategy and Resources Committee be endorsed.

Report by Director of Resources and Deputy Chief Executive (attached).

The Committee considered a report by the Director of Resources and Deputy Chief Executive (circulated previously) regarding the 10 Year Capital Strategy for 2022 to 2032.

The Head of Governance highlighted the following:

·       The Capital Strategy was a high level review of the corporate priorities, capital investment ambition, available resources, affordability and risk management in the context of ensuring the long term financial sustainability of this authority.

·       The Capital Strategy contained the medium (MTFS) and long term strategies in relation to capital funding and affordability. 

·       The Capital Financing Requirement (CFR) was predicted to remain at a high level but would decrease over the longer term.

·       The cost for external borrowing was set to remain above £1.5m over the long term period.

RECOMMENDED that the Capital Strategy 2022/23 to 2031/32 be approved.