Issue - meetings

Prudential Code for Capital Finance in Local Authorities/Incorporating the Annual Statement of Minimum Revenue Provision (Dave Hodgson)

 

 

Meeting: 09/02/2016 - Executive (Item 27)

27 The Prudential Code for Capital Finance in Local Authorities (Incorporating the Annual Statement of Minimum Revenue Provision) pdf icon PDF 140 KB

To consider the report of the Assistant Director Finance.

 

Scrutiny Committee – Resources considered the report at its meeting on 27 January 2016 and its comments will be reported.

 

Additional documents:

Decision:

Agreed

 

 

That it is recommended to Council to adopt the:-

 

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

 

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

 

Reason for Decision:

 

As set out in the report.

 

Minutes:

The report of the Assistant Director Finance was submitted setting out the proposed 2016/17 prudential indicators for capital finance for adoption by the Council and annual statement of Minimum Revenue Provision (MRP). The prudential indicators covering a period of the next three years were set out in Appendices A to C.  The report confirmed that the requirement to produce an annual strategy of minimum revenue provision for repayment of debt had been met.

 

In response to a Member, the Assistant Director Finance clarified that an Asset Life (Equal Instalment) Method was where the repayment of the expenditure would be the same every year. Asset Life (Annuity) Method was generally an accounting method used for assets that were anticipated to generate more income after a few years rather than providing a constant stream of revenue over its lifetime.

 

Scrutiny Committee – Resources considered the report at its meeting on 27 January 2016 and its comments were reported.

 

RECOMMENDED that Council adopt the:-

 

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

 

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

 

Meeting: 27/01/2016 - Scrutiny Committee - Resources (Item 15)

15 Prudential Code for Capital Finance in Local Authorities/Incorporating the Annual Statement of Minimum Revenue Provision pdf icon PDF 140 KB

To consider the report of the Assistant Director Finance.

Additional documents:

Minutes:

The Assistant Director Finance presented the report, which set out the proposed 2016/17 prudential indicators for capital finance for adoption by the Council and set the annual statement of Minimum Revenue Provision (MRP).  The prudential indicators covering a period of the next three years were set out in Appendices A to C.  The report confirmed that the requirement to produce an annual strategy of minimum revenue provision for repayment of debt had been met.

Scrutiny Committee – Resources noted the report and recommended that Executive approve the adoption by Council, of the following:-

 

(1)    Prudential Indicators set out in Appendix A-C of the report, and,

 

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