Issue - meetings

To consider the report of the Strategic Director for Corporate Resources.

Agreed:

RECOMMENDED that Council approve the adoption of:

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

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

Reason for Decision: As set out in the report.

The Executive received the report on the proposed 2025/26 Prudential Indicators for capital finance for adoption by the Council and to set the annual statement of Minimum Revenue Provision (MRP). The Prudential Indicators / MRP report would be incorporated within the Budget Book for approval at the relevant full Council meeting as per the statutory requirement.

Particular reference was made to:-

·         the minimum revenue provision, was the policy for calculating the statutory amount to be set aside to repay debt and remained unchanged;

·         the Prudential Code provided a range of indicators for both the General Fund and the HRA (Housing Revenue Accounts) to ensure they were affordable and profitable;

·         the key indicator for Members to consider were the capital financing requirement, which highlighted the amount underlying debt in the capital programme; and

·         the operational boundary and authorised limits were explained to Members;

The Leader moved the recommendations, which were seconded by Councillor Wright, voted upon, and CARRIED unanimously.

RECOMMENDED that Council approve the adoption of:

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

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