Issue - meetings

As detailed in the recommendations.

The Corporate Finance Manager presented the annual statement which the authority was required to prepare on their policy on making Minimum Revenue Provision.

RESOLVED:

(a)       That the following be approved and recommended to County Council on 16 February for Council Fund (CF):-

·         Option 1 (Regulatory Method) be used for the calculation of the MRP in 2016/17 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 2015/16.

(b)       That the following be approved and recommended to County Council on 16 February 2016 for 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