The report set out the proposed changes to the Council’s capital strategy from 2024/25 to 2028/29.

The following points were raised:

·       The document made sobering reading.

·       Element of the improvement journey to financial sustainability had been overlooked.

·       The report highlighted how the Council had ripped the heart and soul out of the borough and was a sad landmark point in the Council’s history.

·       Welcomed some of the lessons that appeared to have been learnt as a result of the Government intervention.

·       Report highlighted issues how the Council had been prior to the run up to the point of intervention.

·       There were now reassurances that capital projects must be agreed in the open and with more money security behind them.

·       Looking to the future the Council needed to enable the community to do more.

Members voted to approve the recommendation with 45 votes in favour, 0 votes against and 3 abstained votes.

RESOLVED

That Council approved: (a) the revised capital programme and 5-year capital programme for 2024/25 to 2028/29 as set out in this report (b) that the capital projects: currently “on hold” totalling £119.0m were not included in the Capital Programme and the associated borrowing of £62.9m was not required; the capital schemes that have not started totalling £3.3m were also formally confirmed as removed from the capital programme and the associated borrowing of £3.3m was not required and those schemes assessed and considered no longer necessary totalling £60.1m were confirmed as removed from the capital programme and the associated borrowing of £56.5m was not required (c) the proposed financing of the capital programme (d) delegation to the Interim Director of Finance s151, in consultation with Commissioners, all decisions surrounding the financing of expenditure within the revised capital programme, in a manner which achieves the most effective use of Council’s resources (e) that any future changes to the capital programme should be approved by Council, whilst ensuring that external funding was able to be used in a timely manner, with any new borrowing requirements subject to Commissioner approval (f) that the Capital Programme Board review and receive updates on the action plans put in place to address the further improvements identified and to note progress on continued delivery of these improvements.