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Issue - meetings

Minimum Revenue Provision - 2015/16 Policy

 

 

Meeting: 17/02/2015 - Flintshire County Council (Item 99)

99 Minimum Revenue Provision - 2015/16 Policy pdf icon PDF 60 KB

Additional documents:

Decision:

              (a)       That the County Council accept the recommendations of the Cabinet, being that:-

 

  • Option 1 (Regulatory Method) be used for the calculation of the Minimum Revenue Provision in 2015/16 for all capital expenditure funded from supported borrowing
  • Option 3 (Asset Life Method) be used for the calculation of the Minimum Revenue Provision in 2015/16 for all capital expenditure funded from unsupported (prudential) borrowing

 

(b)       That the County Council accept the recommendations of the Cabinet for the HRA, being that:

 

  • Option 2 (Capital Financing Requirement Method) be used for the calculation of the HRA’s Minimum Revenue Provision in 2015/16 for all HRA capital expenditure funded by debt. 

 

Minutes:

The Corporate Finance Manager introduced the report to present to Council the recommendations of the Cabinet in relation to the setting of a prudent Minimum Revenue Provision for the repayment of debt. 

 

                          Councillor Aaron Shotton, Leader of the Council and Cabinet Member for Finance proposed the acceptance of the recommendations as outlined within the report.  This was duly seconded by Councillor Peter Curtis. 

 

                          Councillor Derek Butler said a few words in Mandarin which translated as ‘Prosperity and good fortune for the New Year’.

 

              RESOLVED:

 

              (a)       That the County Council accept the recommendations of the Cabinet, being that:-

 

  • Option 1 (Regulatory Method) be used for the calculation of the Minimum Revenue Provision in 2015/16 for all capital expenditure funded from supported borrowing
  • Option 3 (Asset Life Method) be used for the calculation of the Minimum Revenue Provision in 2015/16 for all capital expenditure funded from unsupported (prudential) borrowing

 

(b)       That the County Council accept the recommendations of the Cabinet for the HRA, being that:

 

  • Option 2 (Capital Financing Requirement Method) be used for the calculation of the HRA’s Minimum Revenue Provision in 2015/16 for all HRA capital expenditure funded by debt.