Issue - meetings

As detailed in the recommendations.

The Head of Finance introduced the proposals for setting a range of prudential indicators in accordance with the Prudential Code for Capital Finance in Local Authorities (the Prudential Code).  She explained that the prudential indicators required by the Prudential Code were to support and record local decision making and were not designed to be used as comparative performance indicators.    The Prudential Code recognised that in making capital investment decisions and in reviewing the prudential indicators the Authority had to take into account certain factors.  However, the Code concentrated on the means by which the Authority demonstrated that its proposals were affordable, prudent and sustainable.

            RESOLVED:

That Cabinet approve and recommend to County Council on 18 February 2014:-

(a)       the prudential indicators as detailed in Section 3 of the report

·        Capital expenditure (3.05)

·        Ratio of financing costs to net revenue stream (3.06)

·        Incremental impact of capital investment decisions on the council tax (3.07)

·        Incremental impact of capital investment decisions on housing rents (3.07)

·        Capital financing requirement (3.08)

·        Gross debt and the capital financing requirement (3.10)

·        Authorised limit for external debt (3.11, 3.13)

·        Operational boundary for external debt (3.12)

·        Adoption of the CIPFA Treasury Management in the Public Services: Code of Practice and Cross-Sectoral Guidance Notes (3.14)

(b)       delegated authority for the Head of Finance to effect movements between the separately agreed limits within the authorised limit for external debt and the operational boundary for external debt (3.11, 3.12)