The purpose of the capital strategy is to give a clear and concise view of how a local authority determines its priorities for capital investment, sets its risk appetite and decides how much it can afford to borrow.  The Chartered Institute of Public Finance and Accountancy (CIPFA) Prudential Code and Treasury Management Code requires local authorities to produce a capital strategy to demonstrate that capital expenditure and investment decisions are taken in line with service objectives and take account of stewardship, value for money, prudence, sustainability and affordability.

In accepting the recommendation, Cabinet will approve and recommend to Council the Capital Strategy 2022/23 attached at Annex A of the report.

The subject of the decision:

This report presented the capital strategy which gave a clear and concise view of how a local authority determined its priorities for capital investment, set its risk appetite and decided how much it could afford to borrow.

Alternative options considered:

None.

The reason for the decision:

The Chartered Institute of Public Finance and Accountancy (CIPFA) Prudential Code of Treasury Management Code required local authorities to produce a Capital Strategy to demonstrate that capital expenditure and investment decisions are taken in line with service objectives and take account of stewardship, value for money, prudence, sustainability and affordability.

The decision:

That Cabinet approves and recommends to Council the Capital Strategy 2022/23 attached at Annex A of the report.