Contents
- Issues of the medium term financial strategy
- Medium term financial strategy
- Change in financial planning assumptions
- Budget pressures, growth, inflation, council tax and business rates
- Collection fund
- Fees and charges
- Risk Strategy
- Reserve and contingency strategy
- Transformation
- Capital programme
- Treasury
- Strategy milestones
- Risk and mitigation measures
- Comments of the director of finance and corporate services
- Comments of the monitoring officer
- Summary of legal implications
10. Capital programme
The approved Capital Programme for 2025/26 to 2028/29 totals £270.483m and is to be funded as set out below.
The Capital programme remains under close review on an annual and multi-year basis and currently stands at:
| Funded By | 2025/26 (£m) | 2026/27 (£m) | 2027/28 (£m) | 2028/29 (£m) | Total (£m) |
|---|---|---|---|---|---|
| Grants | 20.062 | 2.922 | 1.273 | - | 24.257 |
| S106 | 3.208 | 0.220 | 0.170 | - | 3.598 |
| Reserves/ contributions | 0.488 | 0.130 | 0.100 | - | 0.718 |
| Capital receipts | 4.366 | 0.960 | 1.200 | 0.045 | 6.571 |
| CIL | 1.590 | 0.380 | 0.185 | - | 2.155 |
| Borrowing | 64.657 | 79.451 | 56.371 | 32.705 | 233.184 |
| Total Funding | 94.371 | 84.063 | 59.299 | 32.750 | 270.483 |
The opportunity to use capital receipts to reduce the borrowing requirement has been restricted by the need to earmark balances to fund the revenue costs of the Transformation programme.
As at the end of March 2025, the Council had a balance of capital receipts of £5.122m of which £3.112m is earmarked to fund transformation as per the Flexible Use of Capital Receipts Strategy agreed at Public Cabinet and Council in February and March 2024.. In 2025/26, it is planned that capital receipts of £9.775m will be received. A lot of these disposals are estimated to complete towards the end of the financial year and there is a risk they will slip into 2026/27.
The Capital Programme for 2025/26 is currently being reported as part of the monthly Budget Monitoring report and reports to this Committee. As set out previously in the report, the construction market remains extremely volatile due to economic conditions, a shortfall in labour as well as raw materials. It is necessary to review the existing capital programme across the medium term.