Capital Strategy
The Borough Treasurer to give a brief overview of the Capital Strategy.
Please note that a the Cabinet report on this matter which is expected on the agenda for the 20 September meeting, will be available from Friday 10 September 2010.
Minutes:
Lisa Quinn, Borough Treasurer updated the committee on the Capital Strategy. The Capital Strategy set out Cheshire East’s approach to capital investment and disposals and how it made decisions in respect of all types of capital assets. The document linked closely with the Council’s Corporate Asset Management Plan (AMP) and showed how the Council was prioritising, targeting and measuring the performance of its limited capital resources so that it maximised the value of that investment to support the achievement of its key cross-cutting activities, initiatives and local and national priorities.
The Capital Strategy was intended to:
· Ensure that the investment of capital resources contributed to the achievement of the authority’s key objectives and priorities that were detailed in their community plans and strategies
· Influence and encourage partnership working, both locally and nationally
· Reflect the visions and aspirations of local people for service delivery and recognise the potential for others to contribute ideas and resources
· Determine priorities between the various services and look for opportunities for cross-cutting and joined-up investment
· Encourage improvement and innovation in asset use, procurement and disposal
· Ensure revenue, capital and whole life costs were fully considered
· Describe how the deployment of capital resources contributed to the achievement of the described goals
· Encourage the consideration and use of a wide range of funding sources
· Promote, in conjunction with the AMP, corporate ownership and prudent consideration of property issues.
The Capital Strategy set out:
· The link to key corporate documents, in particular the Corporate Plan, Sustainable Community Strategy, Local Transport Plant, ICT Strategy, Procurement Strategy, Housing Strategy, Economic Development Strategy and the Asset Management Plan.
· How the authority’s plans were influenced by partners, and details of key partners
· How capital schemes were identified to meet those priorities
· How the choice was made between schemes competing for limited resources
· The framework for managing and monitoring the capital programme
· The process for post implementation review
· A summary of the Council’s approved Capital Programme
· Sources of external funding and the impact of the programme on the revenue budget
The Capital Strategy formed an integral part of the Councils Medium Term
Financial Strategy which provided the financial interpretation of the Councils Corporate Plan.
RESOLVED – That the update be received and noted and that a standard item be included on all future agendas of this committee.