Lead Member – Councillor Roger Evans, Portfolio Holder for Finance

Lead Officer – Cheryl Sedgely, Head of Financial Management and Reporting

REPORT TO FOLLOW

RESOLVED:

That Cabinet:  

1.     Approved progression of next steps as identified in Appendix A for Council funded capital schemes within the Capital Programme.  

2.     Approved progression of next steps as identified in Appendix B for Priority schemes within the Capital Strategy.  

3.     To commence work in Quarter 1 of 2026/27 on an accelerated review of all Council owned and leased land and building assets, in order to inform a refreshed Capital Strategy for the next 5 years which is aligned to enabling financial stability for the Council. 

To review and comment upon the Capital Strategy 2026/27 – 2030/31 ahead of it going Cabinet.

REPORT TO FOLLOW

The Finance Director presented an update on the capital programme and strategy, outlining the review of priority schemes, the principles guiding capital investment, and the need for an accelerated and independent review of Council assets.

Members expressed concern about the potential for 'fire sales' of assets due to accelerated disposal requirements. Members were assured that an independent review will be conducted to avoid rushed sales and to ensure assets are either generating income or disposed of efficiently, considering historical and maintenance factors.

Questions were raised about the comprehensiveness of the Council's asset register and the cost of due diligence. It was confirmed that while an asset register existed, it required enhancement for informed decision-making, and that due diligence will be conducted in-house where possible, with external support used selectively and time-limited.

RESOLVED:

That the committee supported the recommendations in the report and agreed to forward them to Cabinet for decision.