Issue - meetings

Report of the Executive Director – Corporate Services and Commercial

Further to Minute No. 108 of the meeting of the Cabinet held on 13 February 2025, the Council considered the report of the Executive Director – Corporate Services and Commercial indicating that the Capital Strategy set out the long-term context in which capital expenditure, borrowing and investment decisions were made and considered the impact of these decisions on the Council’s priorities, the Corporate Plan and the promises made in the 2030 Vision for Sefton. At the heart of the Capital Strategy was the Council’s core objective to continue to deliver financial sustainability. As such a flexible capital investment programme was more important than ever as a method to stimulate and enable economic growth and strategic investment, ensuring best use of existing assets and of generating future income streams to pay for and deliver day to day services.

The following appendix was attached to the report:

·       Appendix A – Capital Strategy 2025/26

It was moved by Councillor Howard, seconded by Councillor Atkinson and

RESOLVED:

That the Capital Strategy, as set out at Appendix A to the report, be approved.

Report of the Executive Director – Corporate Services and Commercial

Further to Minute No. 42 of the meeting of the Overview and Scrutiny Committee (Regulatory, Compliance and Corporate Services) held on 11 February 2025, the Cabinet considered the report of the Executive Director – Corporate Services and Commercial indicating that the Capital Strategy set out the long-term context in which capital expenditure, borrowing and investment decisions were made and considered the impact of these decisions on the Council’s priorities, the Corporate Plan and the promises made in the 2030 Vision for Sefton. At the heart of the Capital Strategy was the Council’s core objective to continue to deliver financial sustainability. As such a flexible capital investment programme was more important than ever as a method to stimulate and enable economic growth and strategic investment, ensuring best use of existing assets and of generating future income streams to pay for and deliver day to day services.

The following appendix was attached to the report:

·       Appendix A – Capital Strategy 2025/26

Decision Made:

That the Council be recommended to approve the Capital Strategy, as set out at Appendix A to the report.

Reasons for the Decision:

The Capital Strategy was a key policy document for Sefton Council and followed guidance issued in the Prudential Code for Capital Finance in Local Authorities (2021 Edition). Local authorities were required by regulation to have regard to the Prudential Code when carrying out their duties in England and Wales under Part 1 of the Local Government Act 2003.

Alternative Options Considered and Rejected:

None. The CIPFA Prudential Code for Capital Finance in Local Authorities (2021 Edition) required all Local Authorities to adopt a Capital Strategy.

Report of the Executive Director – Corporate Services and Commercial

The Committee considered the report of the Executive Director of Corporate Services and Commercial on the Capital Strategy 2025/26.

The report indicated that the CIPFA Prudential Code for Capital Finance in Local Authorities (2021 Edition) required all Local Authorities to adopt a Capital Strategy; that the Capital Strategy set out the long-term context in which capital expenditure, borrowing and investment decisions were made and considered the impact of these decisions on the Council’s priorities, the Corporate Plan and the promises made in the 2030 Vision for Sefton; that at the heart of the Capital Strategy was the Council’s core objective to continue to deliver financial sustainability; that as such, a flexible capital investment programme was more important than ever as a method to stimulate and enable economic growth and strategic investment, ensuring best use of existing assets and of generating future income streams to pay for and deliver day to day services.

The report provided the Committee with the opportunity to submit comments on the Strategy to Council that would be considered as part of the formal approval of the Capital Strategy.

The Capital Strategy 2025/26 was attached as an appendix to the report.

This report would also be considered by Cabinet and Council at their meetings to be held on 13 and 27 February 2025 respectively.

A Member of the Committee queried the grant allocations added to the capital programme as detailed in paragraph 4.4 of the report and the difference to the planned financing of the Capital Expenditure Estimates, totalling £133.837m, in 2025/26 as detailed in paragraph 4.11.

RESOLVED:

That the Capital Strategy 2025/26 be noted.