Decision details

(Cabinet Member with Special Responsibility Councillor Hamilton-Cox)

Cabinet received a report from the Chief Finance Officer that presented Cabinet’s final budget proposals in order that the Council could approve a General Fund Capital Programme for 2025/26 to 2034/35 and a Capital Strategy 2025/26 as required by regulation.

The options, options analysis, including risk assessment and officer preferred option, were set out in the report as follows:

Cabinet may put forward alternative proposals or amendments to the proposed Strategy ahead of consideration by Full Council. For capital, Council may adjust its capital investment and financing proposals taking account of spending commitments and priorities, but its proposals for 2025/26 must balance.

Depending on the nature of any alternative proposals put forward, Officers may need time to assess the risks and implications. This is to ensure that relevant considerations are taken into account, to support informed and lawful decision- making.

The officer preferred option is to consider the Capital Programme and Strategy as attached allowing for any amendments being made under delegated authority prior to referral to Council.

This report addresses the actions required to complete the budget setting process for its Capital Programme and Capital Strategy.

If Cabinet, or Budget Council changes its Capital Programme from that which is proposed in this report then this would require a change in the prudential indicators which are part of the Treasury Management Strategy.

Questions were raised with regard to revenue and the movable floor at Salt Ayre and progress in relation to St John’s church and the meeting were advised that clarification would be provided.

Councillor Hamilton-Cox proposed, seconded by Councillor Dowding:-

“That the recommendations, as set out in the report, be approved.”

Councillors then voted:-

Resolved unanimously:

(1)             That Cabinet recommends the following for approval to Budget Council:

· the updated Capital Programme covering financial years 2025/26 to 2034/35 · the Capital Strategy (Investing in the Future) 2025/26

(2)        That delegated authority be given to the S151 officer, in consultation with Portfolio Holder for Finance & Resources to amend change in the prudential indicators should Cabinet or Full Council make any revisions to the Capital Programme.

Officer responsible for effecting the decision:

Chief Officer Resources

Reasons for making the decision:

The Council’s revenue and capital budgets should represent, in financial terms what the Council is seeking to achieve through its Policy Framework. The proposed capital programme and supporting strategy is part of the Council’s budget and policy framework, and fits into the Medium Term Financial Strategy.

The proposed budget incorporates measures to address the climate emergency and digital improvements as well as activities to address wellbeing, health and community safety.