Issue - meetings

The Committee considered the merits of a strategy to enable the use of capital receipts to fund the salary costs of officers involved in one-off transformation work undertaken by the Council during 2020/21. This was permissible under Regulation 23 of the Local Authorities (Capital Finance and Accounting) (England) Regulations 2003 and subsequent government guidance (March 2016) which provided greater freedoms for using capital receipts to finance expenditure.

In accordance with the statutory guidance, a schedule of the various areas of work undertaken by the transformation team in 2020/21 was presented. This identified the cost of the work (totalling c£160,000) and the estimated associated saving of £349,000 to be achieved in the current financial year. The Council had £1,851,077 of capital receipts that could be used under the scheme, which was more than sufficient to finance the transformational work identified.

            R E C O M M E N D E D  – that the flexible use of capital receipts strategy be agreed.