The capital appraisal process is the means by which, on an annual basis, the council decides which capital projects it can finance and add to the capital investment programme of capital and maintenance projects.
Proposals for new council investment will inevitably exceed the resources available, therefore choice and priority setting form an important part of our capital appraisal process, ensuring that best choices are made and we achieve the best value for money. Our current capital appraisal processes comply with central government's requirements that all local councils should have in place an approved system for assessing the priority of schemes for capital investment in light of the council business plan, community plan and local priorities.
A capital programme must be driven by the desire to provide high quality, value for money public services. In making our capital investment decisions we must have explicit regard to option appraisal, asset management planning, strategic planning for the council and achievability of the forward plan.
The approach adopted allows a community focussed capital investment to form an integral part of a sustainable, community planning process. The annual appraisal process also ensures we maintain our three-year investment programme, in line with indicators set out in the prudential code.