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The purpose of the Capital Board is to:

• Oversee the development and implementation of the Council’s capital investment programme in both the General Fund and Housing Revenue Account (HRA).
• Ensure that capital investment decisions are aligned with the Council’s strategic priorities and financial plans.
• Monitor the performance of capital projects and programmes.
• Identify and mitigate risks associated with capital investment.
• Ensure value for money in all capital expenditure.

The Capital Board shall be responsible for:

• Strategic Oversight:
  • Reviewing and approving the Council’s capital investment strategy.
  • Ensuring that capital investment decisions are aligned with the Council’s overall strategic objectives.

• Project Approval:
  • Reviewing and approving business cases for major capital projects including the Asset Maintenance and Replacement Programme.
  • Assessing the financial viability and risk profile of proposed capital projects.
  • Ensuring that capital projects are properly scoped, budgeted, and timed.
  • Ensuring that proper consideration has been given to the environmental and social implications arising from each capital project

• Performance Monitoring:
  • Monitoring the progress of capital projects and programmes
  • Reviewing regular performance reports.
  • Identifying and addressing any issues or delays.

• Financial Management:
  • Ensuring that capital expenditure is properly budgeted and controlled.
  • Reviewing and approving capital budgets.
  • Monitoring the financial performance of capital projects.

• Risk Management:
  • Identifying and assessing the risks associated with capital investment.
  • Developing and implementing risk mitigation strategies.
  • Feeding into the Council’s risk register as appropriate.

• Value for Money:
  • Ensuring that capital investment delivers value for money.
  • Reviewing the procurement strategy for capital projects.
  • Monitoring the performance of capital assets.