The Head of Finance presented a report which set out the proposed Capital and Asset Maintenance programmes for 2021/24 together with proposed funding. 

Members’ attention was brought to the supplementary agenda, which detailed the Capital Strategy 2020/21, as required by CIPFA code of Practice. The Strategy set out how the council would manage the investment and financing of capital resources to contribute towards the achievement of its key objectives and priorities and how the associated risks were managed as well as future financial stability.

The capital projects proposed were set out Appendix A, and included capital programme feasibility studies, vehicle replacement programme and disabled facility grants, which was from the Better Care Fund. The full funding and proposals were set out in Appendix B to the report and the anticipated capital receipts were shown in Table 1 of the report.

The Head of Finance responded to Members questions and advised that in terms of possible investment opportunities it was important there was greater transparency to complete capital programme feasibility studies to get a capital scheme up to a certain level where decisions and schemes can be investigated further.  Certain expenditure could be incurred for due diligence and it was proposed that a budget be allocated so that it could be more clearly reported.

In each of the schemes that were past feasibility and due diligence stages, separate approval would be requested for the full scheme cost which would include costs incurred at these initial stages.

Public Sector Equality Duty

Members noted that consideration had been given to impacts under the Public Sector Equality Duty.

Resolved: That the report be noted and forwarded to Cabinet.