The impact, if any, upon the general fund revenue account, which will arise from capital investment proposals will be calculated and considered at the time projects are placed before Cabinet or Full Council for inclusion in the approved capital programme or for specific approval. Such impact may be in the form of reduced interest receipts, where projects are to be financed from capital receipts or reserves, borrowing costs, if loan finance is to be employed, or additional running costs arising from the provision of a new or altered facility. Offset against these costs will be any savings which might accrue, for example from 'invest to save' projects.
In accordance with the Chartered Institute of Public Finance and Accountancy (CIPFA) Prudential Code for Capital, which we have adopted, the incremental impact of the capital programme will be calculated and considered when that programme is placed before Full Council for approval, in February each year.
We will always have regard to the affordability of our proposed capital investments, in terms of the revenue implications arising.
The revenue implications of the capital programme will be taken account of in our medium-term financial strategy.