Issue - meetings

Report by the Executive Director of Resources & Section 151 Officer

In April 2025 Council agreed a number of changes to the Constitution.   As part of that the threshold for a Key Decision for capital expenditure was increased to £2.0m.  Section 5 of the Financial Regulations which sets out the arrangements for Capital expenditure needs to be updated to align with the threshold for a Key Decision. 

Council is RECOMMENDED to approve:

a)           amendments to Section 5 of the Financial Regulations increasing the limit for Cabinet approval for new inclusions and variations to capital schemes from £1.0m to £2.0m to align with the key decision threshold of £2m.

b)           that in exceptional circumstances up to £0.500m funding for exploratory feasibility works can be approved by the Executive Director of Resources and Section 151 Officer (following discussion and recommendation at, and with the support of the Strategic Capital and Commercial Board).

Recommendations approved with 3 abstentions.

Council considered a report on the Financial Regulations proposing to update Section 5 of the Financial Regulations which sets out the arrangements for capital expenditure and which required updating to align with the threshold for a Key Decision

The recommendations were moved by Councillor Levy and seconded by Councillor Fawcett.

Following discussion, the recommendations were approved with 3 abstentions.

RESOLVED to approve:

a) amendments to Section 5 of the Financial Regulations increasing the limit for Cabinet approval for new inclusions and variations to capital schemes from £1.0m to £2.0m to align with the key decision threshold of £2m.

b) that in exceptional circumstances up to £0.500m funding for exploratory feasibility works can be approved by the Executive Director of Resources and Section 151 Officer (following discussion and recommendation at, and with the support of the Strategic Capital and Commercial Board).