Issue - meetings

To submit the report of the Cabinet Member for Finance.

To accept the report and to approve the Capital Strategy for 2024/25

The Cabinet Member for Finance, Councillor Ioan Thomas, submitted the report which

addressed the statutory requirement on Councils and provided a long-term context to

capital expenditure and investment decisions by Councils. It was noted that the report

also provided an overview of how the associated risks were managed and the

implications for future financial sustainability.

The Head of Finance added that the report referred to 3 appendices but unfortunately

the appendices had not been included in the Agenda papers. It was noted that these

appendices provided further details but that sufficient information had been included

in the report. 

A table entitled "Approved Investment Counterparties and limitations" was shown to members and it was reported that the table being shown provided the information that was missing in the appendices. Apologies were expressed for the failure to include the appendices and it was added that they had been included in the Agenda papers of the Governance and Audit Committee and that they had been considered there in full.

Please find enclosed a copy of the table. 

The Monitoring Officer gave assurance that the report in the Agenda papers was comprehensive, along with the above table that was shown and that it placed members in a position where they were able to vote and adopt the strategy. 

Members were given an opportunity to make observations and ask questions.  The following matters were raised by individual members:-

Members expressed gratitude for the report as well as to Arlingclose for their presentation to Council members back in February.  It was noted that the field was very technical but that Arlingclose had made it easier to understand. Appreciation was expressed that this presentation had been available to every Councillor and not just to members of the Governance and Audit Committee as usually was the case.

It was confirmed that the members were in a position to make a decision since the report was comprehensive.