Issue - meetings

To receive and consider the report of the Director of Finance.

1.         That the contents of the report be noted and the revised performance indicators be approved.   

2.         That the Council’s current position regarding its portfolio of investment assets be noted.

The Executive Member (Resources), Councillor Peter Wilson, presented the report of the Director of Finance.  The Capital Strategy was approved by Full Council alongside the budget on 23 February 2021 and the report set out monitoring information.

The Capital Strategy set out the long-term context in which capital expenditure and investment decisions were made and gave due consideration to both risk and reward an impact on the achievement of corporate strategy priorities.  The Prudential Code 2017 required Full Council to approve and monitor the strategy.

The strategy set out a framework for the self-management of capital finance and examined the following areas:

·                Capital expenditure

·                Treasury Management

·                Commercial Activity

·                The future ambition of the council’s capital programme

The Leader of the Opposition, Councillor Martin Boardman, queried why the figures for Market Walk and Market Walk Extension were presented as one figure.  This would be clarified following the meeting. 

Councillor Sam Chapman queried the current level of net debt.  This would be clarified following the meeting.

The Deputy Leader, Councillor Peter Wilson proposed and the Executive Leader, Councillor Alistair Bradley seconded the (by majority) Decision

1.         That the contents of the report be noted and the revised performance indicators be approved.  

2.         That the Council’s current position regarding its portfolio of investment assets be noted.