To consider the submitted report on the review of the Council’s Corporate Capital Strategy and any recommendations from the Overview and Scrutiny Board (Policy Framework document).

Members considered the submitted report setting out a review of the Corporate Capital Strategy.  The strategy set out the principles to be used to guide the allocation of capital investment across all Council services and informed decisions on capital spending priorities within the Council’s 4-year Capital Plan.

Elected Mayor Oliver proposed and Councillor Mills seconded a motion as set out below:

that, subject to Section 2.1 of the proposed Capital Strategy being amended so that Business Cases prepared self-funding or invest-to-save capital schemes include all future maintenance costs over the life of the scheme, the Council be recommended to approve the Capital Strategy as set out at Appendix 1 to the submitted report.

The motion was put to the vote and declared lost.

The Head of Finance to present the report on the review of the Council’s Corporate Capital Strategy.

The Elected Mayor to answer any of the Board’s questions.

The Board to consider making any recommendations to the Elected Mayor ahead of the meeting of the Council.

The Board considered the Elected Mayor’s proposed Capital Strategy which set out the principles to be used to guide the allocation of capital investment across all of the Council’s services.

Resolved:  that the Elected Mayor be recommended to amend Section 2.1 of the proposed Capital Strategy so that Business Cases prepared self-funding or invest-to-save capital schemes include all future maintenance costs over the life of the scheme.