Agenda item

The Service Lead, Finance summarised the Capital Strategy 2018/24 and the capital programme for 2018/19.  The Cabinet would be considering the strategy on 5^th February 2018 and would be recommending it to full Council on 22^nd February.

There would be investment of £285m to 2024 including £40.5m to expand local schools, £13.1m on leisure facilities, £75.3m on Council housing through the Housing Revenue Account, £66.7m on James Elliman Homes and £54.1m on major two centre regeneration schemes.  The programme was funded from various sources including grants and capital receipts with a majority funded through borrowing.  The links to the Treasury Management Strategy in supporting the significant programme of investment was noted.

The Committee discussed the revenue contributions to capital schemes which were used in limited and specific circumstances.  It was noted that the Government had introduced new flexibilities for local authorities to use capital receipts which the Council would utilise for appropriate schemes.  At the conclusion of the discussion the Committee noted the Capital Strategy 2018/24.

Resolved –  That details of the Capital Strategy 2018/24 as set out in the report, be noted.