Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
Recommend the following to Full Council:
1.1. Agree the Council’s 2023/24 to 2026/27 General Fund Capital Programme which includes planned expenditure of £305.67m (including capitalisation directions) across the four years.
1.2. Note that the Council will incur borrowing of £169.53m (including £162m of Capitalisation Direction) in 2022/23, with further borrowing projected of £45.82m in 2023/24 and £28.36m over the three years after 2023/24. The cost of this borrowing is factored into the Council’s Medium Term Financial plan resulting in 2023-24 total interest charge and Minimum Revenue Provision of £61.3m
1.3. Approve the Council 2023/24 Housing Revenue Account Capital Programme with a total investment planned of £32.62m with borrowing of nil.
1.4. Approve the Council’s Capital Strategy, drafted with the support of PwC, as detailed within Appendix A of this report.
Publication date: 06/03/2023
Date of decision: 22/02/2023
Decided at meeting: 22/02/2023 - Cabinet
Effective from: 03/03/2023