Issue - meetings

To consider the report of the Chief Finance Officer.

The Executive received the report on the proposed 2020/21 Prudential Indicators for capital finance for adoption by the Council and to set the annual statement of Minimum Revenue Provision (MRP), which was a statutory requirement of the Council. Members were informed that the Prudential Indicators would ensure the Capital Programme was affordable for the Council and that the Annual Statement of Minimum Revenue Provision set the policy on how the Council paid back debt for assets.

No changes had been made to the policy for the MRP and the proposed charge for 2020/21 would be £1.2 million, which was higher than previous years, following the introduction of new lease vehicles.

Particular reference was made to the voluntary repayment of debt totalling £5.02 million and to the three prudential indicator calculations listed in the report, with Members noting that the authorised limit indicator showed the total amount that the Section 151 Officer could borrow on behalf of the Council.

RECOMMENDED that Council adopt the:-

(1)  Prudential Indicators set out in Appendix A-C of the report presented to the meeting; and

(2)  Annual Statement of Minimum Revenue Provision for the Council.