Issue - meetings

(To receive a report from the Executive Director of Finance and Public Protection, which invites the Executive to recommend that the Capital Strategy 2019/20 is adopted by full Council)

That the Capital Strategy 2019/20 be recommended to full Council for adoption.

Consideration was given to a report from the Executive Director of Finance and Public Protection which advised that local authorities were required by the CIPFA [The Chartered Institute for Public Finance and Accountancy] Prudential Code to have a capital strategy in place by 1 April 2019. The Capital Strategy was detailed at Appendix A to the report.

The Head of Finance – Corporate presented the Capital Strategy in detail to the Executive and advised that the Strategy would be submitted to the meeting of County Council on 22 February 2019, as part of the report on the Council Budget 2019/20. The Executive was asked to recommend to the County Council the approval of the Capital Strategy.

The Chairman of the Overview and Scrutiny Management Board (OSMB) advised that the Board had considered the Executive report at its meeting on 31 January 2019 and had supported the recommendations in the report.  Comments of the Board were circulated at the meeting.

The Chairman of the OSMB advised that the Board had recommended that scrutiny committees have the opportunity to consider capital programme information to ensure greater oversight and scrutiny of the capital programme.  The Board also felt that there would be benefits of regular scrutiny and monitoring of the capital programme. The Board had also welcomed the proposals in the strategy for the Council to consider and approve a joint capital programme and revenue budget in February of each year, and for performance against the capital programme to be reported to the Board twice per year.

RESOLVED

That the Capital Strategy 2019/20 be recommended to full Council for adoption.