Issue - meetings

The Director of Customer & Corporate Servicesto present a new report for 2019/20, providing an overview of how capital expenditure and capital financing contribute to the provision of services and how the associated risk is managed, and asking Executive to recommend the capital and investment strategy to Council for approval.

Recommended: That Council approve the capital and investment strategy at Annex A to the report.

Reason:              To meet the statutory obligation to comply with the Prudential Code 2017.

The Director of Customer & Corporate Services presented a report which provided an overview of how the council’s capital expenditure and financing contributed to the provision of services and how the associated risk was managed, and asked Executive to recommend the capital and investment strategy to Council.

This was a new statutory report, to be considered alongside the Treasury Management Strategy Statement and revenue and capital reports.  The revised Prudential Code 2017 had introduced a requirement for councils to approve an annual strategy, partly in response to increasing commercialisation within local authorities.  The strategy for 2019/20 was attached as Annex A to the report.

Recommended: That Council approve the capital and investment strategy at Annex A to the report.

Reason:              To meet the statutory obligation to comply with the Prudential Code 2017.