Decision details

Minimum Revenue Provision - 2016/17 Policy

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Decision Maker: Flintshire County Council

Decision status: Recommendations Approved

Is Allweddol decision?: No

Is subject to call in?: No

Purpose:

To present proposals for the setting of a prudent Minimum Revenue Provision (MRP) for the repayment of debt in 2016/17, as required under the Local Authorities (Capital
Finance and Accounting (Wales) (Amendment) Regulations 2008 ('the 2008 Regulations)

Decision:

(a) That Members approve for the Council Fund:

· Option 1 (Regulatory Method) be used for the calculation of the MRP for all capital expenditure funded from supported borrowing; this represents a continuation of the approved and adopted policy for 2015/16

· Option 3 (Asset Life Method) be used for the calculation of the MRP in 2016/17 for all capital expenditure funded from unsupported (prudential) borrowing or credit arrangements; this represents a continuation of the approved and adopted policy for 2015/216

(b) That Members approve for the Housing Revenue Account (HRA):-

· Option 2 (Capital Financing Requirement Method) be used for the calculation of the HRA’s MRP in 2016/17 for all capital expenditure funded by debt; this represents a continuation of the approved and adopted policy for 2015/16.

Report author: Liz Thomas

Publication date: 24/06/2016

Date of decision: 16/02/2016

Decided at meeting: 16/02/2016 - Flintshire County Council

Accompanying Documents: