Issue - meetings

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

 

 

Meeting: 06/02/2024 - Executive (Item 26)

26 The Prudential Code for Capital Finance in Local Authorities (Incorporating the Annual Statement of Minimum Revenue Provision) pdf icon PDF 153 KB

To consider the report of the Director Finance.

 

Additional documents:

Decision:

Agreed:

 

RECOMMENDED that Council approve the adoption of:-

 

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

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

 

Reason for Decision: As set out in the report.

 

 

 

 

Minutes:

The Executive received the report on the proposed 2024/25 Prudential Indicators for capital finance for adoption by the Council and to set the annual statement of Minimum Revenue Provision (MRP), which would be incorporated within the Budget Book for approval at the full Council meeting in-line with statutory requirements.

 

Particular reference was made to the £1.905 million proposed MRP charge for next year and the total amount of overpayments at the end of the financial year was £0.7 million, which would be used in next year's budget to offset the MRP.

 

RECOMMENDED that Council approve the adoption of:-

 

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

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