Capital strategy
Capital strategy for 2007/08-2009/10
Effective capital investment is essential to
the delivery of the council’s priorities and capital assets are a
key resource contributing to the prosperity and well-being of the
area.
Tower Hamlets’ Capital Strategy ensures that
the effectiveness of capital resources is optimised by allocating
funding to those programmes and projects that will contribute most
to the achievement of the council’s strategic objectives. It is
part of an integrated planning programme aimed to deliver high
quality services and value for money, and is an essential component
of the council’s Medium Term Financial Plan and the Three-Year
Capital Programme. The key drivers of the Capital Strategy are set
out below.
The council’s Capital Strategy is designed
to:
- Provide a basis for prioritising capital investment on the
basis of its contribution towards the achievement of the council’s
key priorities
- Optimise the utilisation of the council’s assets in pursuit of
its objectives
- Optimise returns on the council’s investment portfolio
- Ensure that the investment required to maintain existing assets
throughout their lives is made available
- Establish a clear framework for managing and monitoring the
capital programme
- Optimise external funding to augment the total resource
available
- Evaluate projects to ensure they secure value for money,
promote best procurement practice, and are subject to a rigorous
risk assessment
- Facilitate joint and cross-cutting working
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