Issue - meetings

    Report by Corporate Director Alistair Cunningham.

Cllr Philip Whitehead presented the report on the Capital Strategy for 2019/20; the Capital Programme for 2019/20 - 2023/24; and associated non-financial investment indicators.

Cllr Whitehead in presenting the report explained that the purpose of the Capital Strategy is to set out the priorities and framework within which Wiltshire Council determines its resourcing priorities for capital investment, decides the level of borrowing, the affordability of the borrowing and sets the level of the risk appetite.

In response to a question from Cllr Thorn, Chair of the Financial Planning Task Group about the reduction in Capital investment from 2020/21 onwards and positive challenge for schemes within the Capital programme, Cllr Whitehead explained that the expectation for a proportion of the Capital spend during 2018/19 was not achieved and therefore, a number of schemes had been realigned to the Capital programme for 2019/20. The Interim Director of Finance confirmed that following discussions with officers, she was confident that the schemes detailed in the programme were now achievable during 2019/20.  The Leader commented on the Capital programme and indicated that numerous factors affect the smooth running of the programme.  It was recognised that the process was now more realistic, with risks, challenges and timings of schemes being considered at an earlier stage.

In response to a further question from Cllr Thorn about the Commercial – Local Development Company scheme detailed in the Capital programme, Cllr Clewer confirmed that a report would be presented on this scheme at the next Cabinet meeting on 26^th March 2019.   

Reason for Decision:

To enable the Council to agree a Capital Strategy for 2019/2020, approve the Capital Programme 2019/2020-2023/2024 and set non-financial investment indicators that comply with statutory guidance and reflect best practice.