Issue - meetings

The Capital Programme 2024-2029 and Capital Strategy 2025/26 is to be presented to the Committee, prior to final consideration by Cabinet and Council in February 2025.

All appendices are draft and are correct at the time of publication.

The Director for Corporate Services, Dawn Garton, introduced the report with a presentation.

Concern was raised that with the state of the finances and the use of reserves, that the Council could be panicked into selling off assets. In response it was confirmed that the Council has a strategy and there is a plan to maximise opportunities. There is an approved asset development programme and that decisions would be made to either maximise assets for the Council’s benefit or dispose of assets.

The comment was made that it would be preferable to see assets that aren’t used (e.g. garages) sold off instead of assets that are used. In response, it was noted that garages are covered under the Asset Management Plan for the Housing Revenue Account and the plan outlines the improvement of some garages sites and the decision to dispose of sites that aren’t used.

Members noted that the Stockyard project relies on match funding from the Council and as it is increasingly rare for construction projects to stay on budget, concern was raised regarding the liability for the Council if it goes over budget. Members were reassured that Officers are keeping a tight rein on spending and that if costs overrun, then the project would be reengineered, in order to bring down costs. Reference was made to a recent positive internal audit report on this project.

Concern was raised regarding the policy of patch and mend in the short term, which could lead to extra costs in the long term. It was clarified that the Council doesn’t have funding to do everything it would like to or needs to, and that Officers do the best they can where they can but recognise that this area is a risk.

RESOLVED

That the report is NOTED and Members’ comments are presented to Cabinet at the next Cabinet meeting.