Issue - meetings

This report sets out the Council’s proposed strategy in relation to capital expenditure, financing and treasury management in 2021/22 to be approved by full Council. The report also sets out the Prudential Indicators for capital expenditure and the Minimum Revenue Provision Statement for 2021/22 to be approved by full Council.

The report set out the Council’s proposed strategy in relation to capital expenditure, financing and treasury management in 2021/22 to be approved by full Council. The report also set out the Prudential Indicators for capital expenditure and the Minimum Revenue Provision Statement for 2021/22 to be approved by full Council.

Proposed by Councillor Monk,

Seconded by Councillor Mrs Hollingsbee; and

RESOLVED:

1.        That report C/20/74 be received and noted.

2.        To recommend to Council that the 2021/22 Capital Strategy, including the Prudential Indicators, set out in appendix 1 to the report be approved.

3.        To recommend to Council that the Minimum Revenue Provision (MRP) Statement for 2021/22 set out in appendix 2 to the report be approved.

(Voting figures: 7 for, 2 against, 0 abstentions).

REASONS FOR DECISION:

Cabinet is asked to agree the recommendations because:-

a)    The Council must have regard to both CIPFA’s Prudential Code for Capital Finance in Local Authorities and the Ministry for Housing Communities and Local Government Investment Guidance when carrying out its duties under Part 1 of the Local Government Act 2003.

b)    The Council is required to approve a Capital Strategy for the forthcoming year.

c)    The Council is required to approve a Minimum Revenue Provision statement for 2021/22 in advance of the start of the financial year.