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 went on to explain the background to the Prudential Code which aimed to ensure that Councils’ capital investment plans were affordable, prudent and sustainable.

RESOLVED:

That Cabinet approve and recommend to County Council on 1 March 2013:

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).