Decision details

That Cabinet recommends to Council that:

a)    the Capital Strategy be approved.

b)    the non-treasury Investment Strategy, as set out at appendix 1 of the officer’s report, and the annex that documents the processes and responsibilities in respect of Commercial Property Investment, be approved.

c)    that subject to the receipt and evaluation of expected CIPFA guidance in respect of Commercial Investment Property acquisitions it be noted that it may be necessary to submit a revised Capital Strategy for Council approval, as detailed at paragraph 6.2 of the officer’s report.

REASON FOR DECISIONS

The Capital Strategy provides an overarching framework on how capital investment decisions should be undertaken by the Authority. It is a statutory requirement to produce a Capital Strategy from 2019/20.

ALTERNATIVE OPTIONS CONSIDERED AND REASONS FOR REJECTION

To not have a Capital Strategy is not an option as this is a requirement of the CIPFA Prudential Code which all Local Authorities need to observe.