Decision details
2025/26 Draft Capital Investment Budget and Capital Strategy Update
Decision Maker: Cabinet
Decision status: Recommend Forward to Council
Is Key decision?: No
Is subject to call in?: No
Purpose:
To recommend to Council for approval the revised capital investment budget and capital strategy for 2025/26 onwards.
Decision:
That: Cabinet recommends the following to Council
a) To approve the revised capital programme for 2024/25 attached at appendix C;
b) Approve the capital strategy at appendix D; and
c) Approve the Flexible Use of Capital Receipts of up to £0.6million in 2024/25 and £0.6million in 2025/26, to support transformation to generate ongoing revenue savings and reduce service delivery costs in future years
Alternative options considered:
1. It is open to Cabinet to recommend alternative capital investment options to Council. No alternative options have been brought forward to date and suggestions would require review and assessment, in line with those completed on the options presented in this report. In addition, as an amendment to proposals put forward by Cabinet, any amendment would either require the consent of the Leader of the Council or further consideration by Cabinet, and scrutiny, before a decision could be taken in accordance with budget and policy framework rules.
2. A capital strategy is required in accordance with the statutory guidance issued by Chartered Institute of Public Finance and Accountancy (CIPFA), there is discretion on content of the strategy but we have applied the guidelines within the draft.
Wards Affected: (All Wards);
Contact: Rachael Sanders, Director of Finance Email: Rachael.sanders@herefordshire.gov.uk Tel: 01432 383775.
Publication date: 13/01/2025
Date of decision: 13/01/2025