Issue - decisions

RESOLVED: 

That the Capital Strategy 2025/26 be recommended to Full Council for approval, including the adoption of the Minimum Revenue Payment (MRP) statement.

KEY DECISION: 

Report to Cabinet and Council 

PORTFOLIO: 

Finance and Corporate

ALTERNATIVE OPTIONS CONSIDERED/REJECTED: 

As set out in the report. 

DECLARATIONS OF INTEREST: 

None 

DISCUSSION: 

The Portfolio Holder for Finance and Corporate introduced the report which detailed the Capital Strategy for 2025/26 and how expenditure would be financed in line with financial regulations.  It was proposed that the Council continue to maintain £10 million in reserves, in order remain in a stable and sound financial position.  It was highlighted that there had been a change in position regarding the future of Lymington Town Hall and this had been reflected in the report.

The Assistant Director – Finance, in addition reported that the Capital programme was extensive over the period and that as a consequence, there was an increasing reliance on debt to fund the programme, having already exhausted most of the cash and internal resources.