Cllr Turner left the meeting at 6pm.

The Head of Finance submitted a report (previously circulated, now appended) which detailed the Capital Strategy and set out proposed revisions to the Council’s approach to capital investment and the rules and processes against which the capital schemes are prepared, evaluated and monitored.

Cllr Ed Turner, Board Member for Finance, Asset Management and Public Health presented the report.  He emphasised the importance of following appropriate governance procedures in the future given that the Council had a very large capital expenditure programme to deliver in challenging market conditions.

The City Executive Board resolved to APPROVE the Capital Strategy attached at Appendix A, subject to the Head of Finance revising the documents in line with the comments from the Scrutiny Committee (refer minute 182d).