11. Capital Programme and Capital Strategy 2022/23 to 2026/27 PDF 313 KB
The attached report sets out the updated capital programme for 2023/24-2026/27 for the Council’s General Fund with a forecast of resources available over that period. A specific update of the 2022/23 programme including the forecast and variance as at Period 8 is also provided.
Additional documents:
Decision:
RESOLVED: To
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.