Decision details

RECOMMENDED to Council:

(1)       That Part I of the Capital Strategy (Capital Expenditure and Aspirations) be approved including:

a)         The Short / Medium / Long-term Aspirations set out in Appendix 1

(2) That Part II of the Capital Strategy (Borrowing and Investing in Property) be approved including:

a)         The Minimum Revenue Provision (MRP) for Debt Repayment Policy (Part II, (paragraph 1.5)

b)         The investment indicators in Part II - Appendix 2 (part II, paragraph 2.5)

c )        That the Director of Finance and Resources (Section 151 Officer) will bring a report to the next Cabinet and City Council if (part II, paragraph 2.5):

(i)         The Council's gross General Fund (GF) debt exceeds 400% of GF net service expenditure or;

(ii)        Overall investment income from investment properties and long term treasury management investments exceeds 7.9% of GF net service expenditure.

(This is referred to Council and is not subject to call-in)