Issue - meetings

Capital Investment and Disposal Strategy for 2022/23

Meeting: 22/02/2022 - Cabinet (Item 107)

107 Capital Investment and Disposal Strategy for 2022/23 pdf icon PDF 177 KB

Report of the Cabinet Member for Finance and Corporate/Chief Finance Officer.

Additional documents:

Minutes:

Cabinet considered a report of the Portfolio Holder for Finance and Corporate which sought approval for the 2022/23 Capital Investment and Disposal Strategy (‘The Strategy’) set out in Appendix 1 of the report, which outlined how the Council would meet the requirements of the relevant legislation, codes of practice and guidance that form the Prudential Framework, Ministry of Housing, Communities and Local Government (MHCLG) Guidance on Local Authority Investments, and Public Work Loan Board (PWLB) Lending Terms.

 

The Chief Finance Officer reported that at the meeting of the Corporate Overview and Scrutiny Committee on 17th Feb 2022, Members had agreed that, in view of the current economic environment and uncertainties surrounding interest rates and inflation rises, the Council’s Communities, Regeneration and Environment Overview and Scrutiny Committee be requested to scrutinise all commercial projects above a certain agreed criteria, and furthermore, the Corporate Overview and Scrutiny Committee to retrospectively undertaken a review of original commercial project business cases twice a year.

 

Alternatives considered:

There were no feasible alternatives – all proposals were in accordance with the revised CIPFA Prudential Code, which was formally adopted by the Council and with Government guidance regarding Local Authority Investments.

 

RESOLVED:

1.    That the annual Capital Investment and Disposal Strategy for 2022/23 be recommended to Budget Council for approval with particular reference to:

a.    The objectives of the Strategy contained in section 2 and Appendices of the report;

b.    The approach to and governance arrangement around property investment/development contained in section 5 of the report;

c.    The Council’s risk appetite and quantitative indicators set out in section 6.3 of the report.

2.    That it be considered and recommended to Budget Council for approval that delegated authority be given to the Cabinet Member for Finance and Corporate and the Chief Finance Officer to implement the outcome of the review of the current strategies and limits in place that govern how the Council manages its debt levels, and to report this outcome via the biannual Treasury Management Strategy update;

3.    That the report of the Chief Finance Officer in terms of the affordability and risks associated with the Capital Investment and Disposal Strategy, as set out in paragraph 5.2 of the report be noted.

 

Reasons for decision:

To gain Cabinet Members’ approval of the Capital Investment and Disposal Strategy for submission to Full Council and to ensure that Cabinet Members were informed of and ensure adherence to the requirements of the Prudential Framework, MHCLG Guidance on Local Authority Investments, and PWLB Lending Terms.

 


Meeting: 10/02/2022 - Cabinet (Item 11.)

11. Capital Investment and Disposal Strategy for 2022/23 pdf icon PDF 177 KB

Report of the Cabinet Member for Finance and Corporate/Chief Finance Officer.

Additional documents: