Issue - meetings

A report setting out the Capital Strategy for 2025/26 to 2029/30 together with the indicative capital programme for 2026/27 to 2029/30.

The Cabinet considered a report of the Assistant Director of Finance which set out the Capital Strategy for 2025/26 to 2029/30 and thereby the proposed 2025/26 capital programme, including identified capital investment priorities, together with the indicative capital programme for 2026/27 to 2029/30, having regard to the resources available over the life of the programme.

The Cabinet was informed that the Council’s Capital Strategy and capital programme were set over a five-year timeframe. The proposed Capital Strategy and programme for 2025/26 to 2029/30 takes the essential elements of the 2024/25 to 2028/29 and previous years’ strategies and programmes and moves them forward in the context of the financial and political environment for 2025/26. The Strategy does however include a longer-term vision, a forward look at those projects that are likely to run beyond the timeframe of the five-year strategy and programme period or be initiated subsequently. This covered a timeframe for the 10 years from 2030/31 to 2039/40. 

The format of the Capital Strategy reflected the requirements of the Prudential and Treasury Management Codes issued by the Chartered Institute of Public Finance and Accountancy (CIPFA). The strategy therefore presents:

·         A high-level long-term overview of how capital expenditure, capital financing and treasury management activity contribute to the provision of services.

·         An overview of how the associated risk is managed.

·         The implications for future financial sustainability.

The Capital Strategy was presented at Appendix 1, to the report. It had been prepared in 14 sections and ensured that Members were presented with the overall long-term capital investment policy objectives and resulting Capital Strategy requirements, governance procedures and risk appetite. The sections are:

1.    The Capital Strategy linked to the Council’s Corporate Plan (Ready for the Future), the Oldham Plan (Pride, Progress, Partnership), Creating a Better Place (CaBP) Programme, Medium Term Property Strategy (MTPS), Housing Strategy (HS), and Budget and Policy Framework.

2.    The Principles of the Capital Strategy.  

3.    Priority Areas for Investment.

4.    Affordability, Delivery, and Risk Associated with the Capital Strategy. 

5.    Knowledge and Skills.

6.    Treasury Management. 

7.    Long Term Loans. 

8.    Other Non-Treasury Investments.

9.    Capital Resources to Support Capital Expenditure.

10.Capital Investment and Disposal Appraisal. 

11.The Prioritisation of Capital Requirements.

12.The Procurement of Capital Projects.

13.The Measurement of the Performance of the Capital Programme. 

14.The Capital Investment Programme Board (CIPB).

The Strategy was aligned with the Creating a Better Place programme which is focused on building more homes for the borough’s residents, creating new jobs through regeneration, and ensuring Oldham is a great place to visit with lots of family friendly and accessible places to go. This also incorporates the Medium-Term Property Strategy and Housing Strategy, aiming to deliver its ambition in ways that contribute to a reduction in carbon emissions in support of the Council’s Green New Deal strategy.

Section 1 of the Capital Strategy highlighted the aims of the Capital Strategy and its links to the Council’s Corporate Plan (Ready for the Future) and the Oldham Plan (Pride, Progress,  ...  view the full minutes text for item 10