Issue - meetings

That Cabinet recommend to Council:

1.      The Capital Investment Strategy be approved including:

a)    the Capital Programme and Capital Programme Financing (Appendices A and B to report CAB3539);

b)    the Minimum Revenue Provision (MRP) Policy Statement (Appendix E of the report);

c)     the Flexible Use of Capital Receipts Strategy (Appendix G of the report); and

d)    the prudential indicators detailed in the report and Appendix F of the report.

That Cabinet recommend to Council*

1.      The Capital Investment Strategy be approved including:

a)      the Capital Programme and Capital Programme Financing (Appendices A and B to report CAB3539);

b)      the Minimum Revenue Provision (MRP) Policy Statement (Appendix E of the report);

c)      the Flexible Use of Capital Receipts Strategy (Appendix G of the report); and

d)      the prudential indicators detailed in the report and Appendix F of the report.

That Cabinet:

2.      Subject to Council approval of the capital programme, the following capital expenditure be approved:

a)    IMT equipment in 2026/27 (£154,000) as detailed in paragraph 11.8.6 of the report;

b)    Repairs to the Guildhall clocktower in 2026/27 (£250,000); and

c)    Capital improvements to the Guildhall in 2026/27 and 2027/28 (£3,300,000)

3.      That the requirement to ensure Members have the right knowledge and skills to undertake their governance role be noted and that the ongoing support and training offered to members is continued and enhanced as required.

*NB recommendations to Council are not subject to call-in

Councillor Cutler introduced the report noting that it had been considered at Scrutiny Committee on 10 February, the draft minutes of which had been circulated to Cabinet and other members present. 

Cabinet agreed to the following for the reasons set out in the report and outlined above.

RECOMMENDED (TO COUNCIL):

1.          The Capital Investment Strategy be approved including:

a)          the Capital Programme and Capital Programme Financing (Appendices A and B to the report);

b)          the Minimum Revenue Provision (MRP) Policy Statement (Appendix E of the report);

c)          the Flexible Use of Capital Receipts Strategy (Appendix G of the report); and

d)          the prudential indicators detailed in the report and Appendix F of the report.

RESOLVED:

2.          Subject to Council approval of the capital programme, the following capital expenditure be approved:

a)   IMT equipment in 2026/27 (£154,000) as detailed in paragraph 11.8.6 of the report;

b)   Repairs to the Guildhall clocktower in 2026/27 (£250,000); and

c)   Capital improvements to the Guildhall in 2026/27 and 2027/28 (£3,300,000)

3.          That the requirement to ensure Members have the right knowledge and skills to undertake their governance role be noted and that the ongoing support and training offered to members is continued and enhanced as required.

RECOMMENDATION:

It is recommended that scrutiny committee comment on the proposals within the attached cabinet report, ref CAB3539 which is to be considered by cabinet at its meeting on the 12 February 2026.

Councillor Neil Cutler, Deputy Leader and Cabinet Member for Finance and Transformation introduced the report, ref CAB3539 which set out the Capital Investment Strategy 2026-2036. The introduction included the following points.

1. The Capital Investment Strategy was brought forward as part of the annual budget setting process.
2. The report provided detailed information regarding the capital programme, the financing of capital, Minimum Revenue Provision (MRP) requirements, and the policy for the flexible use of capital receipts.
3. Officers had undertaken significant work to collate the extensive information contained within the report.

The committee was asked to comment on the proposals within the attached cabinet report, ref CAB3539, which was to be considered by cabinet at its meeting on 12 February 2026. The committee proceeded to ask questions and debate the report. In summary, the following matters were raised.

1. A question was asked regarding page 132 and the acquisition of land and property. Specifically, whether this would require Minimum Revenue Provision (MRP) in the General Fund or if it would be treated like the Housing Revenue Account (HRA) with a write-down over time.
2. Further clarification was sought regarding; the HRA budget and whether assets were depreciated over time and the rules surrounding depreciation time periods.

These points were responded to by Neil Aitken, Service Lead: Finance accordingly.

RESOLVED:

1.    That the report be noted.