This report sets out the Council’s proposed Capital Programme and resources for the next five financial years commencing in 2025/26. The Capital Programme covers our planned expenditure on the acquisition, construction and/or enhancement of non-current assets, i.e., those assets with a useful life of greater than one year.

The report also presents the Council’s updated Capital Strategy in accordance with the requirements of the Prudential Code.

RECOMMENDATIONS TO COUNCIL

1.    That the 5 Year Capital Programme for 2025/26 to 2029/30, set out at Appendix A of the report, be approved.

2.    That the application of capital resources of £1,422,512 for 2025/26, including a borrowing requirement of £680,012, be approved.

3.    That the Capital Strategy 2025/26 to 2029/30 be approved.

Reasons:

1.    To obtain approval for the proposed level of capital expenditure in 2025/26 and the suggested method of financing that expenditure.

2.    To provide a longer-term forecast of capital expenditure and financing requirements for the period 2025/26 to 2029/30.

3.    To ensure compliance with the Prudential Code.