Capital strategy

Appraisal of investment proposals

In accordance with our financial regulations, proposals for new capital investment estimated to cost more than £20,000 will be subject to an appraisal process, whereby a business case will be made out for the proposal, considering its contribution towards meeting corporate objectives and service priorities, its outputs and milestones, its cost and sources of and its effect, if any, upon the revenue budget in future years. Less significant projects costing below £20,000 will be subject to a simplified process. All new capital investment proposals must be appraised by the capital programme review group prior to specific Cabinet approval being requested. Before any project may be commenced, specific Cabinet approval must be obtained and the project must be included in the approved capital programme, after considering its priority relative to other proposed projects and the overall level of resources available to fund the capital programme as a whole.

A risk assessment, in the approved corporate format, will be completed for all capital projects subject to the benefits management model process.