Decision details

 (Cabinet Member with Special Responsibility Councillor Hamilton-Cox)

Cabinet received a report from the Chief Finance Officer that proposed a Flexible Use of Capital Receipts Strategy for 2026-27 to complement the ongoing Council’s commitment to financial sustainability.  Statutory guidance from the Department for Levelling Up, Homes and Communities (DLUHC) and the Chartered Institute of Public Finance and Accountancy (CIPFA) enables local authorities to make flexible use of capital receipts to fund projects which are likely to generate savings to the authority and / or other public bodies. To make use of this provision, authorities must submit to the Secretary of State a Flexible Use of Capital Receipts Strategy setting out how the provision will be applied in the next financial year.

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

The officer preferred option is Option 1, to enable the Council to make use of the Flexible Capital Receipts provision in supporting its savings and service transformation initiatives over the coming years.

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

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

Councillors then voted:-

Resolved unanimously:

(1)                     That Cabinet recommends the approval by Full Council on 25 February 2026 of the Flexible Use of Capital Receipts Strategy 2026/27 set out in this report, in accordance with the relevant statutory guidance.

Officer responsible for effecting the decision:

Chief Officer Resources

Reasons for making the decision:

If adopted, the Flexible Use of Capital Receipts Strategy would form part of the council’s Policy Framework. From a strategic perspective, enabling the use of capital receipts to deliver savings and service transformation initiatives will give the council scope to pursue its wider transformation challenges with greater flexibility and effectiveness. Failure to adopt a Flexible Use of Capital Receipts Strategy will severely constrain the council’s ability to pursue these initiatives.